This one is down big in the last few days from $30... I have it on my watchlist to short if fail $8.00 but I was watching too many other stock and forgot about this one. By the time I check back it already below $7.40. So I wait to see if fail the $7.00 area.
I start in short $6.98 as it fail $7.00, cover some at $6.70 to give me some cash to work with...
It just keep coming down, I use the house money to short some more at $6.25. Cover some more at $5.85 and it's moving up so I cover some more at $6.09 to keep the cash in my pocket. I added the last short position at $5.85 for the break at $5.86ish level and cover everything at $5.67...
I know, I shoulda, coulda held from $7.00 and cover all at $5.67 right? Not my style. I like to sell some as it washdown. The best method is to keep realize profit and cash out at least some cushion alway make me happy. Trade less but profit more.
Enjoy.
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