OREX Trade on Mar 3, 2015 13:58 from foldelinio_BOWS: Tradervue User Stock Trades.

109M float/19% short of float/77% institutional

Stop: 8.30$ on both entries.
R:-0.7 on the first entry
-0.6 on the second

This is was FOMO looks like. I had no runner for the whole day and discovered $OREX too late. Wanted a piece of the cake so I waited for the pullback to finish. 8.40s held, so I joined the bid at .48s and it jumped on me right away. I expected the .40s to crack right after, but they held up again, so I re entered with the same stop. Looked like I nailed the entry and was excited to add....which leads directly to the mistakes section.

Mistakes:
1st: I did it AGAIN!. Before you enter a long, make sure the shorts already got squeezed!!!!!
In hindsight, the structure was so easy to read: Longs went in on the pullback around 11:30 with stops at 8.20$, then a failed top retest, another test of the highs around 13:00 with new longs coming in at 9$ and stops from 8.50$ to !8.20$! When it tested the 8.80S twice and could not go above, this would have been a sign to short that thing! Longs everywhere, stock at HOD and stops not pulled yet!

2nd: the greed!!I had a decent opportunity to scale out around 8.80$ but I wanted to have my 2:1 scale, which was at 8.90$. So I held on...idiot!

Was was good:
1st: under normal circumstances I would pat myself on the shoulder for the second entry...which was a good one at the lows. I did not want to repeat the mistake I made yesterday.
2nd: When the 8.50 bids acted funky and the tape went wild, I did not hesitate to pull the plug before it run over my stop.