How are the locates for AIFF or INLF(I made almost 7 points on a few shares on Friday.) pumps. I don’t have your speed or mojo to short them.
it was 4 cents a share at 4 in the morning, the day before it was almost .20 at the peaks so I didnt do it..... thats why its really important to be up early on those ones, even if it doesnt set up ill pay the borrow on something like that because R:R is so inverted.
If you made 7 points you did well, LOL I dont have any speed anymore on plays like that, thats why I like the short side, cause you can wait for it to come to you as opposed to just diving in..... generally if your long you want to be as early as possible, but if your waiting on the short you can wait forever and if it doesnt hit you, then fuck it who cares, there is a million short set ups like AIFF or INLF that never hit my order, every day, but you dont need to force those moves. Front side of the move vs backside, the backside is a lot easier and more predictable.
INLF same thing as AIFF they always end the same way just a matter of not getting too tangled up on the front of it, coiuldnt find shares of it this morning which was a bummer was a bit late waking up and they were all gone.
There is always one that gets you in this environment, not sure if anyone even reads the journal which is why I don't post much anymore but Ill show an interesting fuckjob since no one here seems to post losses, I love posting the losses because thats where the learning opportunity is....... anyways here it is after a couple real solid wins shorting small caps last couple days, MLGO got me today. The mindset behind the trade was that I was pissed at WOK yesterday cause I didnt size in and I had the dead top, SHORT at 6 (EXHIBIT1), and i took it off at 3.51, because i thought premarket lows would be more of a bouunce, then proceeded to watch it go another 3 dollars and i wasnt sized in wasnt willing to chase. Should have told myself that was a good trade just wasnt sized in, but so many people posted and made a ton on that move so I told myself it wasnt enough...... Fast forward to today: and MLGO
So today on MLGO had what I thought at the time was the dead high again at 9.99 I started shorting then it immediately rolled over and even halted down for 3 dollars, I was so confident I had the top I started sizing in aggresively on the next pullback, thinking 10 was the top, then I couldnt get out for my life when it set a higher low, putting reserve bids in and getting tapped for a couple hundred shares at a time, ended up getting out roughly around ten only to see it fade to 6 later. man this is a hard market to time. Sorry for the shoddy graphics I cant show entries and exits through DAS which is the only place i can short these small caps. Other thsn that everything else sucks too haha Oil about to set new lows, NAZZ peaked Bitcoing 100k holding USD/CAD top at 1.45 No where to go anymore.
Never went long once, lol in hind sight looks pretty dumb, it kept creating a higher base and just never failing, but at the time I just thought it was another Chinese scam like WOK that wasnt going anywhere. It inevitably failed but there was so many good bounces that could have been bought if you just plug your nose and buy. LOL! Hindsight is always 20/20 but there was really no point in fighting with something like that, wait for it to go a couple more days then its an easy short, rather than fighting it on day 1. Kudos on the big win!!