+1173 today trading TWTR and CRBP.
CRBP I was short over night. I was hoping for a gap down and wash before a push r/g but that did not happen. I was sized in a little to big for this type of play and closed that with a $1400 loss. I then resorted on the morning spike. This short worked out beautifully. Sadly, I got a little greedy and missed my chance to cover for $2000+ in gains on the pull g/r. I wanted more down side and had my covers out in the 9.40s. In my defense though it did just have an epic fail and everything pointed that this would stay red. But where I truly went wrong is when I then did not cover on the push back green. I am disappointed with that lack of discipline. I let my desire for more profits cloud my judgement here. “But I was just up $xyz…” I held through the push back to VWAP and finally covered for basically breakeven, ending the day on this trade +23.50. It was having a really hard time staying below $10 at that time so I did not want to risk another run. It turns out I could have held out for some more gains but I am just grateful to close green on this stock. Next time though, I need to heed the price action on such a key level such as the r/g line.
TWTR was another long play and a great one at that. As you will see on the chart below I bought after the LOD pull and it started to look like it wanted to ramp. I sold 1/2 on the break above VWAP. I held the other half wanting to cover in the 17.50s. I never got that. I learned my lesson though from CRBP and covered the last half when it had a big pull below VWAP and was making lower highs…an indication that this was done running.
I had to leave early today for an appointment so I did no trade any more.
