Boring day for me but could have been worse. Was exactly flat on the day today. Some missed opportunities and some lessons.
CEMP: Shorted it after it had no followthrough and it was under vwap. Thought it looked weak for a stock that was supposed to bounce. Went through vwap and decided I didn't like it so I got out on the dip for flat. I kept looking at the higher timeframes to see if where I was shorting was just a low, which it ended up being. Of course it's hard to tell as a stock can do anything. I did disregard vwap although I have seen stocks do this sort of pattern. Either way nothing much to learn from this except to keep in mind higher timeframes.
TWTR: Just a goof trade. I thought there would be news since the market was going down but for some reason TWTR was being bid up so I thought that was odd and gave it a shot. I realized thought that there should have been call buying if someone knew something but there was no strong call activity when I checked after the fact. I got out for flat when it went back to my entry. It almost stopped me out but I moved my stop down one penny. Not sure if there is anything to learn from this.
Other stocks:
AUPH: I wasn't so short biased on this which was a mistake because I thought it could go higher. I wasn't adverse to shorting it though but I wasn't too confident in it although I knew the news was bs. One lesson here though is to read the entire PR because there was a small nugget in there that changed a lot and made it seem like they were hiding the real news behind the headline. It also stuffed and made a new low which even then would have been a good entry although it was at support.
VRX: Once it peaked the prior support from yesterday I wanted to short but I didn't for some reason which was a mistake. Perhaps it was fear which I shouldn't be having. The idea was good. Later on I saw some stuffs at $20 which were also good but didn't take. Lesson: No fear.
BABA: I was interested in a continuation move downward from yesterday but it never really setup to my liking. It did have good earnings though so it could have been a decent 2nd day bounce play that I have been noticing lately on the good earnings names.
ADPT: Once it went red and consolidated it looked weak so I thought about shorting but the short float being so high just got me out of doing anything. It would have worked anyway.
DPLO: I did think the move was overdone but the market and price action made me bearish. It flushed out of the open and then bounced and then came all the way back down. While the parabolic was a decent short, I didn't bother because I thought it would just trend all day or stick around higher.
FIT: I wanted to short this if it went higher to 9.60 but it never got there and just consolidated for a while. Eventually it seemed pretty thick on the L2 so I took it off radar. It ended up stuffing then coming off and holding around the 8.80 level from premkt. I thought that was it and there wouldn't be that much more downside but I was wrong. Not much to learn from this I think. I really thought it wouldn't do much else and was surprised when it continued to fade off.
Things to remember:
1. Use higher timeframes
2. Disregard vwap in certain cirsumstances
3. Read the entire PR
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