SKYS: I saw this was gapping up and saw like the prior earnings that it gapped up and then faded. I did think this would have to run a bit more than it did. I saw the stuff out of the gate and thought about getting in pops. It then made new highs but it was a clear stuff. While I did get in with half size because I wasn't entirely sure, I should have gotten in quicker after I saw that. It was a clear stuff. I then tried adding to 100 shares after it peaked vwap but never got filled/was a pussy because I still thought it could run based on prior daily candles but I should have went in because the risk was low to vwap over/under. I was pretty patient with it although it did go a bit lower later on but I got a bulk of the move. Lesson: Good job getting in after the stuff but you should have gotten in quicker. Also, you should have just added on the vwap test and fail no matter if you didn't get the exact fill you wanted by a few pennies. Your profit would have been double. These are good setups that you need to size into.
WATT: While I didn't make a huge amount of money on it, I did get a decent amount out of it and it was my main gainer. My thesis was continued downside after a lot of shorts had covered/gave up. When it started peaking vwap I got in after it made a new low and then came right back. I figured it just had to get some shorts out. This is a good point to mention that I shorted in spite of it having a false breakdown because of the overall big picture. I added sort of by accident and I was up a nice bit when it went down to 16.18 but I wanted to be patient. It unfortunately came back and reclaimed .30s so I sized back down and then it ripped a bit past vwap. My stop was vwap over/under and it just got right above vwap and came back down. So I did stop out perhaps a bit prematurely there. I wasn't sure if it was going to go higher first before coming back down. It then fell back under vwap so I said ok it got everyone out. I reshorted half size. Unfortunately I didn't add full size this time (same thing as yesterday) and it almost made me say fuck it when it was basing for a while but I told myself this is what they want you to do so I stayed put and right after it perked, it slammed back down and it had a nice wash. I covered when it started to base in case it had to go back up and then it would reshort. But I saw it was very heavy still so I reshorted where I covered and got another leg down on it. I left it alone and then went for a walk. Funnily enough I left around 1:10 and saw the red candle down and said hmm maybe this is the end of the rebound. It was but when I got back I saw it was consolidating at lows and had a nice pattern. I shorted at .46 and gave it to .60 over/under. The same thing happened here where it looked like it was going to breakout and I had my finger on the buy button and they let the quotes go a couple of pennies above the .60 area and then it slammed back down. I said ok that might be it. I was then patient because I expected a decent washout but it was just a slow fade for 20 cents or so from where I shorted it. I didn't want to add at any part on the way down although I really wanted to. But it's ok - I stuck to my plan. Lesson: Good job playing defense when it reclaimed in the morning. The stop out over vwap was tough but you got back in. It is tough to say whether you should short full size again although it would have been nice. Good job reshorting when it was weak and getting another leg down. As for the afternoon short, this goes to show you have to let things work and have wiggle room. It would have sucked to cover at the top and then see it make new lows.
ACIA: This was a stupid FOMO chase that could have worked but the entry was horrible. I recognized my mistake right away and got out for a very tiny loss. I saw that it stuffed before but it was holding up and grinding higher. My idea was yesterday it got out all the breakout buyers and with a lot still stuck short it could rip up. So when it went green and it looked good I got in. But I knew my entry wasn't good so I got right out. This was a good choice because that was it. I wanted a dip to r/g to test and see if it would hold but it never held so I never got back in. Lesson: Don't FOMO chase.
CLRB: I saw this in the morning and should have shorted it on the clear stuffs but oh well. I saw it late day have a push to vwap on big volume. I figured this would be a good short opportunity as many of these fail. This was a tricky one because it hovered then seemed like it was going to go higher and at this point it was clear that vwap over/under was invalidated as a stop. However, it just ended up tanking after that. So it was a miss but no big deal. I was pretty patient with it and the more it hovered the more I thought it would go higher instead. I don't think there's a lesson here. Maybe I have to give it more room but to be honest it didn't really look good fora short anymore. It just tanked out of nowhere after looking like it was going to breakout.
Things to remember:
1. Give things enough room over/under. Be true to stops.
2. If you get stopped out but then it sets up again like WATT, chances are it got everyone out and the real move will happen now so don't be afraid to go to the size you had before.
3. Don't be a pussy with adding on/getting in prime setups like SKYS and WATT.
4. No FOMO.
5. Trade the best with the setups you like. Wait for the morning action to fizzle in certain stocks and trade the patterns afterwards.
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