So many wrong calls on this - stock has eaten my lunch. But...it is going to to the order block around 42$ IMO and will bounce from their. I bought 30 may 19 45 Puts for $1.01 and will sell off 75% of these at 42.00 approx 3.50/contract. Rest sell at $38.50 whch will be the bottom.
Looks to me like it could continue to rally to the 20 EMA. If it rejects there, I'm with you on the short. This is a weak name IMO.
sjfog2016
⋅
@jaxdog didn’t see this comment unfortunately till today. It is the WEAKest name!!!! Nearly at a cursed level. If I could undo all my focusing trades over the last 2 years I’d have wiped out half my losses. Thing is true POS. Management is homeless soup kitchen it will eventually rip but current pattern for me is I will never recover losses - can’t time it. Always learning, definite main lesson I’ve learned in 2 years is heavy retail interest and overall participation is critical. Better to call a breakout on a big stock then try to pick one that you think the masses will come onto in the future. What a cluster F thjs stock has been
jaxdog
⋅
@sjfog2016, Sorry to hear about your struggles in the market. Yes, it happens to just about everyone at some point. (I've blown up my account(s) several times over the years. You point out a great lesson; don't think the masses will eventually think the same as you do. I know you are not asking but the very best thing you can do is limit your losses and always accept that the market is "always" right. If we are not adding to our PnL the market is telling us we are fighting it and we need to get right with the market. Forget about getting your losses back. Instead, look to make good trades going forward and continue to make progress. Hope that helps.