MNGA: I looked at a weekly chart of this for the past few years and saw heavy resistance at $2.5 so that is the area I was interested in. In the morning I saw it go to $2.4 and top out with volume but wanted a bit higher nearer to $2.5 to get in. That didn't happen and it washed out a bit but then started to hold on. At the time I thought I missed my chance and that I really should have started in at 2.4 with risk on $2.5 but I wanted the lowest risk possible since I was only going to do one shot of 200 shares since that is the only way the trade would be worth it. Anyway, it came back and made nHODs before coming back but then it came back again but it couldn't break $2.5 and then that is where the huge wash came which I didn't see since I was away. Even if I did see it I probably wouldn't have shorted since it kept coming back.
UDF: I was looking for a SSR washout long on this with a higher low to go in. On the 1min chart I saw a higher low form but then looked at the 2min chart and it didn't look nearly as good so I stayed away. After a couple of more minutes I saw it was getting heavy with some lower highs and thought about shorting it since everybody must be playing the bounce and when it doesn't happen, they all sell, similar to what happened on day 1 of LOCK. It washed out a dollar and I didn't take this trade due to the large risk, although even if I took 50 shares and covered for around $1 it would have been alright. Afterwards though, I saw it was reclaiming the support from the open and thought that maybe all the dip buyers were stopped out and now it can actually bounce, especially with the SSR on. I looked to see for any dips but didn't want to do it since the risk was a little much for when I was actually interested in the trade and the proper risk was $7.8s and not 8 o/u. The trade didn't work anyway as it came back down near the LODs but then towards the end of the day it rallied back.
LIVE: I wasn't paying much attention to this one but in retrospect it was an easy short as it tried to breakout and then it just failed and faded the rest of the day, No follow-through momentum although there wasn't much volume. It went right to the prior day's support and failed.
KMI: I saw this in the morning and wanted the same trade as yesterday if $16.5s hold and push it can be a good long. I probably would have gotten long but then stopped out and maybe flipped short since once I saw it was weak and about to break support I thought it might be a good short. I'm not sure why I didn't take this trade. I probably figured it wouldn't be worth it but it did have a decent .50 fade towards $16. There was another trade and that was the long for the rebound. I didn't see this since I was out but it was a nice consolidation at the lows and then had higher lows and then it ripped towards $17. I believe this was part in due to Icahn comments.
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