GME Trade on Jan 13, 2021 13:50 from WuManChu: Tradervue User Stock Trades.

Idea, Entry, and Risk:

*Idea: Enter on dip after the run up (didn't catch this until later in the day)
*Entry: 32.50s, entered on small ABCD setup
*Risk: 1:X (feeler size, holding)

Catalyst and News:

3 members being added to the board, but that was two days ago.

Fundamentals:

Better than last year but still needs some work.

Technicals:

Squeeze finally happened. Been on a gradual climb up since the 5 breakout last August. No real new lows, the short percentage is still somehow over 100%, and the vote for buyback still hasn't happened. Feels like a powderkeg in the making.

Summation:

Saw the move in the morning on the way up past 34, ignored it until later when rechecked and saw the falloff. After the bounce from 30, didn't see any new lows and caught the setup, but knowing this thing it likes to lose momentum in the short term fast, presumably due to the heavy short interest. Thus the small size. Will scale up if it bounces and continues. Wasn't in a position to trade deliberately and have full size ready, so this is a start.

Mostly held over VWAP until the flush near EOD, and even then it bounced back pretty quickly. FOMO is still hot here. Exercising caution.

UPDATE: Extremely lucky with this one. Got to the desk late and watched it fall from the morning highs from 38 off open, but figuring this thing still had room to run, being far from my entry, and not having much reason to leave, I let it run. It failed off the morning, but in this market, I figured it was going to bounce at some point. Considered exiting many times, but felt the urge to be patient. Probably not a good long-term habit, but it worked. Will continue to build off of this kind of lesson, and am looking to re-enter ticker on dips tomorrow, especially considering the A/H momentum.

Takeaways:

-Going long isn't so bad, as long as you have a plan.

-Trading while not fully at the computer is tough. Feelers only, especially if you're at work.

-Familiarity is king. Having seen this ticker enough, I had little hesitation to enter. I know what I'm getting into.