AVXL: Never thought I would lose money shorting AVXL but here we are and it was my biggest loser today. I figured it would be a layup like all the others but unfortunately that wasn't true. It is an ok loss as I would take the same trades 10/10 times and 9/10 they work. Anyway at the open I shorted small size when it looked like it was going to break 3. If it went towards premarket highs and stuffed I would add there no problem. It broke 3 and peaked so I added in. After a stupid cover and then a reshort it reclaimed and spiked up and I took the loss. It then stuffed with big volume after going to new highs so I thought this was it so I shorted again but it held up to my surprise and I had to cut it. So that was the main loss. I wish I had played BSPM or GALT instead but I figured this would be the easiest. Could I have waited for the stuff in the first place even though in the end it didn't work? Yeah I guess but it may not have done that. Like I said though I was prepared to add there if need be. I'm not sure if there's a lesson here really. It just didn't work and the trading was ok I guess.
SRPT: I figured this could go higher but I wasn't entirely sure about it. The offering was received well so I thought it could it go like CLCD did. At the open I went long on the nhod $58 breakout and it worked for a bit but I was looking for it to go to high $58s at least and wanted to be patient. It came back pretty quickly and I just got in case. I don't like buying breakouts like that although in this case it was probably ok. I was looking for more followthrough quickly though to the high 58s and when it came back so quick like that I just got out. It did hold vwap of course and in hindsight yea I should have stayed in but so be it. I thought about shorting it in the high 58s after it made a new high and didn't do anything but didn't do it. That would have worked but meh I was more bullish. After the drop I kept trying to see if there was a good place to risk off of but couldn't find one. Sure if you bought anywhere it worked but nothing that fit my criteria although once it got above vwap again I should have just bought but whatever. Later on I tried shorting the 60 stuff but put a breakeven stop which got filled. It did go a little lower but ultimately continued higher. I thought about going long again after that drop from $61.6 to vwap. My friend did and unfortunately he got out at the bottom due to panic when he had the right idea all along. Lesson: Give things enough room.
NVAX: After it got under vwap again I shorted thinking people bought because the director bought and it doesn't mean anything and the company is fucked. Didn't work out but took a small loss. Waited for it to hold vwap and then got out at above vwap.
CXW: I was too early for the short. I shorted because I remember this had news last week and it faded quite a bit after it spiked up. It was a good idea but my timing was off. Looking back at it now it went right to the same top as last time it had news. That would have been good to know. I didn't bother to look at that. Lesson: In this scenario look at when the former news stopped running.
CLVS: I was initially short biased as it started off under vwap but I wasn't totally sure about. I thought that maybe the longs who chased got out yesterday and that there were only shorts left. So I wasn't too confident in shorting. Had it broken through the base and then peaked then I would have most likely tried it. After it got above vwap I didn't bother shorting it. Instead when it got to vwap I tried the vwap dip and rip pattern. Unfortunately, I didn't have much confidence in it since I got out for a tiny loss when it was still valid and it worked great. Lesson: Give things enough room.
Things to work on:
1. Don't trade when confused.
2. GIVE THINGS ENOUGH ROOM DAMNIT! Remember what you said yesterday - partial size is whatever. Your loss on AXVL was a full $1 loss on your partial size and you survived.
3. In cases like CXW, see where it spiked to last time.
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