GNUS Trade on May 28, 2020 14:12 from beno: Tradervue User Stock Trades.

Fundamentals

-May 08 2020: $2.8M ATM offering
-May 13 2020: $5.4M offering
-May 28 2020: Offering of $30M, 20M shares $1.5

Catalysts / News / Painting the picture

-May 07 2020: To Launch Kartoon Channel Digital Network Across multiple platforms

Technical Analysis

-SPY pattern: Mountain
-Intraday pattern: Rug Pull
-Levels: 1.6, 2, 2.2, 2.5, 2.8

Strategy / Confluence / Sizing Guide / Risk

Strategy: First test short of 1.9 by 2 level (after offering drop)
Confluence: Whole $
Strike Zone: 1.9 - 2
Sizing (lots): 3
Risk (stop / Rs): Hold above 2

Review / Lessons Learned

Forgot that there was lots of bagged shorts so I though shorting the offering pop would be an easy trade, I also thought there would be no shares so I started early. I tried to add emergency lots above 2 but I was only getting partial fills on my orders (100 shares out of 500 share order) so this ruined my ability to scratch the trade. Ended up taking a small manageable loss on it. Happy with how I managed risk but angry that I forgot about all the bagged shorts.

Lessons Learned: If shorting an offering bounce, make sure their aren't many shorts bagged from prior days!