$MSGM +$54,005
Thought I would share a trade where I had good management followed by letting myself get lost in noise.
I started out with a bearish view over the ticker based on the fundamentals. Some dilution and an upcoming offering seemed enough for me to attack it.
Thought I would share a trade where I had good management followed by letting myself get lost in noise.
I started out with a bearish view over the ticker based on the fundamentals. Some dilution and an upcoming offering seemed enough for me to attack it.
Given the offering would be small and the dilution was on the small side too I played it with smaller size (65k).
I shorted some on the pops as well as the whole number clearout. Shortly after I added small for a breakdown.
When it broke down without momentum I was ready to cut
I shorted some on the pops as well as the whole number clearout. Shortly after I added small for a breakdown.
When it broke down without momentum I was ready to cut
Shortly after and seeing the volume decrease exponentially I took the initiative and cut it.
The volume that followed was extreme and shorts were bent. I absorbed bids, keeping my risk at $20k (14 to 12 on 10k). Added to the breakout moving the stop and sat patiently.
The volume that followed was extreme and shorts were bent. I absorbed bids, keeping my risk at $20k (14 to 12 on 10k). Added to the breakout moving the stop and sat patiently.
This turned into a story of major volume overwhelming the dilution and trapping shorts. I thought we could see far higher.
Once we stuffed and found sellers multiple times I sold for +$95k. A nice 5/1
The afternoon after a viable first long attempt on smaller size was me...
Once we stuffed and found sellers multiple times I sold for +$95k. A nice 5/1
The afternoon after a viable first long attempt on smaller size was me...
Trying to be not be wrong if we decided to go. I knew the trade should have broken down just before and I still reattacked.
The short was me losing control and taking a stab because 'It could break down'
Grade overall C+
The short was me losing control and taking a stab because 'It could break down'
Grade overall C+
@CenterPointSec made it possible for me to locate cheaply and enough of the stock.
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We partnered up to give you the chance to join them with a special deal.
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Happy about:
-being reactive on stopout into liquidity
-Keeping size small but meaningful on long + RR(5/1 with -20k risk to make +100k)
-Keeping size even smaller in the afternoon
-Not swinging
-Leaving it alone after 2 mistakes( the morning is not a mistake, it is just a loss)
-being reactive on stopout into liquidity
-Keeping size small but meaningful on long + RR(5/1 with -20k risk to make +100k)
-Keeping size even smaller in the afternoon
-Not swinging
-Leaving it alone after 2 mistakes( the morning is not a mistake, it is just a loss)
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