Shared by
Dr_G
MYSZ did exactly what I expected and went higher today. Glad I closed my short position yesterday for a small loss (-$200). I was able to open up buying power and start short at 1.87, with adds at 2.05, 2.07 and 2.15 when it started to look top heavy. There was decent resistance in that area on the multiyear. Could I have started shorting higher than 1.87 ? yes, but my style is shorting different resistance areas and average up because no one really knows where the top of the move is, So when there is a breakout above one resistance, Algos and market makers usually take it to the next resistance area or close. I ended up with a 2.01 average 6k shares compared to 1.77 w/ 6k shares yesterday.. so the loss yesterday was nothing considering my new average. As expected the Rug pull came, stock dumped from 2.17-1.77 and I covered 1/3 at 1.84 and another 1k shares at 1.8. Almost covered everything at 1.77 but decided there is a very strong chance this dumps hard on Monday to 1.5-1.6 as a sell the news event. CEO appearing on FOX Business.. big freakin deal! CEO of HMNY appeared on CNBC we all saw what happened to that scam.. this is no different.. MYSZ CEO has ties with people who were involved in a Pump and Dump scheme in 2011 and charged by SEC, thanks to research done by Bp @bprising. Basically you can't unscramble eggs, shady people will always be shady and birds of a feather flock together!
Swinging 3k shares to 1.5-1.6 price target and if it pops again Monday, I'm build my position back up again... this is a no brainier short with proper position management.
2-26-2018
As expected, it was the sell the news event..locked in some nice green at support 1.6. This stock has been a cash cow for me... $8k+ in gains since I started trading it
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-02-23 07:36:23 | MYSZ | sell | $1.870 | short |
| 2018-02-23 07:36:23 | MYSZ | sell | $1.870 | short |
| 2018-02-23 09:33:02 | MYSZ | sell | $2.050 | short |
| 2018-02-23 09:37:35 | MYSZ | sell | $2.050 | short |
| 2018-02-23 11:37:25 | MYSZ | sell | $2.150 | short |
| 2018-02-23 11:37:25 | MYSZ | sell | $2.150 | short |
| 2018-02-23 15:02:35 | MYSZ | buy | $1.850 | short |
| 2018-02-23 15:05:05 | MYSZ | buy | $1.830 | short |
| 2018-02-26 13:21:14 | MYSZ | buy | $1.610 | 0 |
Comments
Dr_G
Thanks, yes I like to lock in green, I felt it may bounce and be stuck in the 1.5's-1.6's, so I covered, not worth the few xtra bucks to pay overnight fees. GL
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You predicted today's low at 1.51, but I'm guessing that you covered around 1.61 in the first dive? Nice work!