Today I had a lot of good ideas but failed to capitalize on them (what else is new).
MYL: I thought the move was overdone so I was short biased, especially since it had lower highs going into the open. I hesitated when I saw a nice vwap stuff on volume and that ended up being a good initial entry. So lesson #1 again: just go for it. I shorted on the retest which worked out and I covered at support so that was a good scalp. Then I reshorted it again and added when it peaked $39. It made new lows but then quickly came back up. It definitely looked like it was reclaiming that level and I should have gotten out but I wanted to give it a little time. Unfortunately I let it grind the trade back to flat when I had a decent profit on it. Lesson: 1. Just take the trade - again your ideas are pretty solid. 2. Just take it off if you think it reclaimed. Obviously situation dependent and sometimes it works and sometimes it doesn't but on a trade like this where it's not a low float that can fade all day and you are just playing technical moves on a larger cap stocks - just take it off.
NTNX: This stock has been responsible for a lot of my potential gains that never materialized. In the morning I was more long biased and when it broke above vwap I went long thinking it would bounce more. I saw it made a new high by a penny and came off. While I was hesitant I wanted to give it some room to work since stocks do a lot of things and it doesn't mean it can't go higher. But I put my stop and it triggered so that was it. I then thought a little later how it looked good for a short and didn't take it for some reason and it was definitely a good short.. Later on it just had a low volume consolidation and despite it being low vol it had a very good pattern and looked very weak so I went in with smaller size in case it popped on low vol and didn't look back. It looked like it was going to break down then it spiked quickly and it looked like a stuff a bit but at the time I said screw it and got out. It then hovered and trickled higher which would have definitely gotten me out and then stuffed big. I should have gotten in on the stuff when I saw it but it's hindsight. I thought about getting in when it was consolidating lower but never did and it just kept washing out. Lesson: 1st trade while it didn't work was ok. The stuff could have tipped you off about it not working but it could have easily had kept going up - many situations like that have happened so that's not an issue. Other lesson is to just give things the full out I guess.
CLVS: This one defied my expectations today. Going into the day I thought a push to $30 would be ideal for a short as it seemed like it could continue fading based on what I thought had happened: shorts were out and longs would continue to sell. So when it got to $30 and seemed like it had made a nhod but then came off - I thought it did the same thing as Friday so I shorted at $30 but then it ended up going higher and it wasn't what I thought it would do so I got out. Good thing because it went $2 higher.
Other mentions:
TWLO and ACIA - both looked weak but no borrows
CRBP: I had borrowed it and had the order in but canceled it due to low vol. Would have worked fantastic. Level 2 made me cancel it as well. Lesson: Fuck L2. Hurts you more than it helps.
Things to remember:
1. Fuck L2. Hurts more than it helps.
2. Take the trade and take it with size.
3. Take it off with reclaims in certain/most cases.
4. Things can still work with low vol. Just have to be careful.
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