Shared by
foldelinio_BOWS
81.56M float/67.50% short float!!/100% institutionals
playbook: This could be a multi day play. Essentially it's two big guys battling it out. One sais "it's a pyramid play. I'm gonna sue you and short your stock" The other one said "my company is valid" The guy who said "bullshit" just got his lawsuit dismissed and needs to get out of his short position....which could cause the mother of all squeezes.
The big run came one day later and it had an unbelievable run right out of the gate...and I missed it. Actually I did not want to repeat my old mistake, waited for a nice pullback and lower highs to break on volume. I entered on a consolidation, got squeezed, reentered on the break of the .50s and waited for the run...it died.
Mistake: Dude, way too much size. If played correctly, you would have started small at .37s and would have been gone as soon as .50s started to crack. You would have had a small loss and be more or less happy. If it went along, you would have added at the next setup just like you usually do it.
Instead, you "wanted" it. You hated the morning grind, though "this is it" and loaded up. Due to this fact, you started to panic, when it did not fly right away and had a brainfart so loud, the neighbours fell from the couch.
This is the first time in three weeks you did this and you never want to do it again. This is the stuff, that kills accounts. Be happy about the fact, that this was a slow and liquid one and you did not freeze. I can't imagine you are that quick, when money is on the line.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-20 13:43:30 | HLF | buy | $41.370 | long |
| 2015-03-20 13:44:44 | HLF | buy | $41.500 | long |
| 2015-03-20 13:45:39 | HLF | sell | $41.465 | 0 |
| 2015-03-20 13:45:50 | HLF | buy | $41.530 | long |
| 2015-03-20 13:49:04 | HLF | sell | $41.470 | long |
| 2015-03-20 13:55:38 | HLF | sell | $41.150 | 0 |
Comments
kunal00
i think the entry was too high.. the bounce already started and u getting it so high makes u more reactive to having to sell it on first dip
StevenBurt_BOWS
Take a look at AVP, this could be a good sympathy trade for your idea.
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I see what you were thinking on this but you reached. The entries are key on these trades and buying it near the VWAP would have been the play. Don't forget, it was up significantly already so you have to think that it is over extended. It was also up on a court decision which I was told years ago that is never a reason to buy. But that's irrelevant on the chart of course.