TIM $15,175, Up $120 on the Day, Short 1,000 COINW @ $3.75 Overnight
Lots of crazy COIN-related trading in the afternoon, shorted 1,000 COINZ at $3.85 mid-day, right near the day low, thinking COIN would crater—eventually proven right, but not before a big spike—COINZ actually made it all the way to $4.25, luckily I got out $4.03, $200 loss wiped out good MBRK morning trade, but didn’t want to risk a big loss. Even though all this COIN crap finished down, it’s a good TIM Lesson: Don’t short just because you think a stock is breaking down, wait for some important level to be taken out first
When COIN did take out that level–$10.40, the morning and mid-day low and only up 20 cents or so on the day, also a prime candidate for an afternoon fade due to the double top at $11ish—I decided to short my other borrow on the day COINW, shorting 1,000 shares at $3.75, a horrible execution—missed $3.95 by a few seconds—but I didn’t know how quickly it’d fade. Along with COIN, fade it did and that’s why I have a profit for the day and probable gap down tomorrow on this SB-2 filing after hours news. Maybe a scary morning spike, hope not.
MBRK cover at $3.04 didn’t turn out to be too bad—these FDA news movers can sometimes hold their gains rather well, no meaningless how stupid their solution seems.
SYNA getting killed after hours on earnings warning, aka the reason why you should never buy falling knives—there’s usually a reason. VPRT blowout earnings an exception.
ETFC soooo easy a buy on all their good afterhours news, after the halt, plenty of stupid sellers in the $3.50-$3.70 range, now $4.20, def. no more buying power for me today, gonna work harder to get that up!
JMBA turned in a great gradual performance, should keep going—can’t use any of my precious buying power on something so gradual though.
