WLL Trade on Mar 24, 2015 09:58 from foldelinio_BOWS: Tradervue User Stock Trades.

150M float/institutional ownership & short float inacurate

playbook: This stock has been manipulated up and down so many times by press releases, it's ridiculous. Rumor, that they are looking for a buyer, stock flies, then they are toning it down by saying that they are just looking, stock tanks, then suddenly Exxon is the buyer, stock flies again and now they are announcing a secondary offering neglecting all the buy out rumors. Stock is down almost 8 bucks from yesterdays close and is trading just above support at 30$. At 31$ a lot of size traded, so this is definitely going to be a level intraday.

Two scenarios:
1. they either punch it down to make a buyout more attractive --> looking for accumulation/rounding patterns intraday

1. they are for real this time and the secondary is going to dilute share structure --> stock tanks --> short and hold till close

To be honest, I don't really know, what I did there and why. Stock got halted right after the open and tanked right after, so I wanted to build a short position, which made sense to me, since due to the secondary offering a truckton of shares would be thrown on the bid.

So I nibbled away and stock had a little flush. 30.50s held, however, so I closed for a small loss.

After that, I just messed up. I somehow had $MAC in the back of my mind, which rallied hard right after it gapped down almost 15%, so I wanted to get long...and got pummeled. Again, I tried to get too big too quickly with regards to my size. Not a good idea.