- The best shorts work straight away.
- Need to be extra conservative on low floats i.e. take trade off earlier.
- Need to be more cautious using stop limit on low floats.
- Be calm when placing trades.
The stock ended up surging to $16. So stops were necessary. But that raises another question, was this a high enough probability trade to be taking. I can only day trade so many times a week. I used up this day trade and it arguably caused me to miss two other trades (FURX @ $16 & RGEN @ $4.7's - another bad news bounce trade).
But this is what really hurts - FURX is at $14 today...
I think I will wait for the squeeze next low float 'bad news short' trade.
Open Trades Short
VRML, MBLTY, GTIM, HUSA, CLNT
Open Trades Long
UNIS, CLDX, HZNP, ALXA, SVVC
April Returns, -3.5%