1st entry of the day on APOP....entered compulsively out of FOMO the potential short squeeze. Yeah it might have worked, but my risk was too much. One, I am chasing strength not buying dips/weakness. Two, its such a low-float that a hard pullback is possible and the 1st hard pullback at the open from 5.25 to 4.75 should have been a warning. Once that massive pullback occurred right as I bought I sold because of fear. The short squeeze was not likely to happen because of all the longs who bought right at the open would sell into a bounce for breakeven. Luckily I stuck to my risk as well as small size. Had I not written I would start with small size....this loss would have been doubled.
HINDSIGHT 5/16/20: CHASING. TRADING BEFORE 9:45.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-05-11 09:35:28 | APOP | buy | $5.080 | long |
2020-05-11 09:35:55 | APOP | sell | $4.680 | 0 |
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