JNJ had it with me today. This was the first time I got faked into a breakdown play that was bought up after my entry. Unfortunately I also pressed my sell button twice for whatever reason. Hit the low with my short. Stuck with my position for a pullback, did not add, but let it play out to get out break-even. Took a loss eventually.
My bias on JNJ was short for continuation after the 10% loss it had on Friday. I knew there would be some pullback where shorts would cover before piling back in, but that took longer than I expected.
When JNJ broke VWAP I thought it would selloff and stuck with the last shares. Took it off when it broke back above break-even. Well deserved loss over all. Bad trading, Markus.
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