CONN Trade on Mar 5, 2015 10:09 from foldelinio_BOWS: Tradervue User Stock Trades.

20M float/40% short of float/ 75% institutional

catalyst: short squeeze
Stop: 25.10$
R: 2.8

Trade from my playbook. Very nice trap. Had $CONN on my squeeze list and as soon as it tanked on volume on the opening and quickly recovered, I was stalking the trade. Longs waiting for the break with stops at 24$ puked out and new shorts came in, too. It coiled a little and I took the breakout.

1st scale: 1/2 on a little more than 1:1 in front of old resistance. I had strong conviction, so I did not want to cap profits.

2nd scale: still wanted to go for it, so I shaved off a little on a push

3rd scale: a 20K order was hitting below bid, so I had to take some of.

close: I hate to say it, even in hindsight I would have closed the position there. Volume dried up... not a single tick for minutes. Book was super thin as well and spreads 10cts wide.
I figured, if some dude wanted to play a game, he'd drop 10k shares on us and the stock would be toast. Did not want to risk it.

Note to self: Yes, you smelled a rat, yes you planned the trade and traded the plan. But if you ever want to trade bigger, keep your hands off of those whimsy stocks.