I WAS RIGHT…. BUT
WHAT THE HECK!! $SIDU.... I mean i was right after all about the stock yesterday. It had ALL the attributes and greater odds of going PARABOLIC or at least making substantial NEW HIGHS. it had:
- Low float
- GREAT CATALYST
- Float rotation
- EXTREMELY LIQUID
I only checked this morning to see what was up with the stock and i came upon this.. I WAS RIGHT ALRIGHT, BUT THE TECHNICALS WEREN'T ON MY SIDE. i mean take a look at the chart.
- HUGE premarket runup
- Good volume premarket and at open.
- Catalyst....catalyst....catalyst.. even if it was pure BS, a contract with NASA is a BIG deal.
My plan was simple: "DO NOT CHASE, WAIT FOR THE DIP".... let the profit takers come in and do their thing. It makes sense because there wasn't any pullback premarket, and buying at those levels might just be you overpaying for the stock.
Market opens, a few profit takers do their thing and i start building my position. Then i start getting worried because the VOLUME was just not it.. for such catalyst, the move in price in proportion to the volume was a bit unsettling. I was looking forward to the $3 breakout and take my usual 10% profit and move on... tried giving it time to develop.. So i did the most logical thing, CUT MY LOSSES AND FORGOT ABOUT IT.
Same trend into the close of the session and BAM!! Volume kicks in and just blows past the intraday high with little to no resistance. Premarket into today's session and it is already up +30%. For a brief period during yesterday's session i was considering SWINGING. I wasn't about to risk it.. i'd rather cut my losses quickly than risk it and get shredded.
As much as it is painful to watch, there was absolutely nothing i could do. If you have the slightest idea on how to read and understand charts, you probably would've come to the same conclusion. at the end of the day, you can ONLY do so much with the available information.
Sad, but it is all part of the business.......
@iheartstocks I the old “right and wrong at the same damn time” it’s frustrating but it happens to us all at some point! I have some similar stories like this lol I’ll comment the link to one here in a sec let me find it
You might enjoy this one ☝🏻