$CANF Case Study – Shorting Too Early

by akos on November 24, 2014

All right…….

One of the heavy hitters in our chat room shorted $CANF very early and played it bad a bit.

 

Click to enlarge!

CANF_case_study

So the dude shorted at 3.81  on 19th hopping that it would crack just like it did the day before. I guess he was hoping the main crack at 3.50 which it almost tested but never touched. On the 20th $CANF stated climbing and topping, putting in 2 tops on the day at 4.25. That was another sign of weakness. On the 21st $CANF charged right out of the gate where he was forced to cover at 4.26 when it broke out from the channel it had been traded in the previous 3 days. It would have been a solid trade but the way I see it that this chart was NOT overextended and it looked bullish.

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Decent Screw Up on $NETE – Size Matters

by akos on November 23, 2014

As of lately I try to go short more and more and go long less and less, let alone tying to gap something into the EOD.

On the 20th of Nov. I went long $NETE when it seemed to have a decent close. I traded $NETE a little bit like a jump, but oh well at least I’ve learned something.

Please Click on Pic to Blow it up!

$NETE

 

So here is the run down how it happened:

I didn’t really scaled in, just bought x amount of shares at 1.78 when I saw it was started to perk on volume. It was testing HOD at the EOD run but didn’t break it. I actually wanted it not to break it, thinking that that would make the morning tighter so it would pop bigger at the open. (Check the volume at EOD).

Friday, pre-market that volume started concern me because there was a huge anticipation for a gap (but when there is no gap up, buyer from the previous day want OUT! So when this junk dipped below 1.70 I got scared thinking that if it doesn’t hold support at 1.65 an then at 1.60 it is going to flush to 1.4.

It was testing support but never broke it. Regardless, I got out at 1.72.

And guess what! 2 minutes later it ripped to 1.85. Aughhhhhhhhhhhhhhhhhh! Screw me!

I would have in that big spike to 2.10 into the giant volume spike. I could have made .30 on  share instead closed with a loss of .06.

The lesson

Size matters.  Had I have smaller size I would not have been shaken out like that. Instead of going full size, try to size in, which means going either 1/2, 1/3 or 1/4 at first  and if the trade is working in your favor you add to the position.

Add to winners.

I hope you learned from my mistake.

If you like the post please share and comment.

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