CRMD Trade on Mar 6, 2015 11:07 from foldelinio_BOWS: Tradervue User Stock Trades.

17M float/2.5% short of float/ 9% institutional

Stop: 7.51$
R: 0.3

I had planned this trade in my playbook, since it already had a good run, overall market was down and it hasn't been heavily shorted yet. It had a little gap premarket, which did not hold.
It was trading very thin at the highs so my first target were the stops of the 7.50$ breakout traders at 7.10$. Book was stacked at 7.40$ and everytime the .40s traded, the stock bounced a little, but could not remount .45s. As soon as a couple of thousand shares were hitting 0.40s I traded into it as well, expecting a huge flush from the longs. However, 0.30s were holding, so I quickly ran for cover.

Mistake: I just should have shorted the 0.70s with a 2-5ct stop in the air instead of waiting for resistance being formed. The idea was alright, but I shorted into support on purpose and this trade could have jumped into my face.