05.05.20 $CLSK, $FB, & $MRNA

I need to dial it in. I'm not trading as badly as I was in January but I'm not trading well the last couple weeks. Today was no different. Lots of losing today but a very, very small loss on the day P&L wise. Keeping my risk under control is the what's been saving me lately.

$CLSK
I liked $CLSK for an entry off VWAP and the previous high of day for a move back up to and through the last high of day. I got long and had my stop set a little too tight and got stopped out. I re-entered and it took until the beginning of lunch to get back up to the high of day. When we got up in front of the previous high I decided to close the position in full, expecting that it was lunch and volume would die down, and that it would either roll over or bobble around VWAP through lunch. I didn't expect it to be an all day mover. I left a ridiculous amount on the table by doing this. I think I made the right call though because we haven't seen an all day runner in a while and it's pretty unusual.


$FB
Facebook chewed me up. There was long term resistance on Facebook around $209.65 and I was shorting off the previous pivot. My stop should have been over the high of day. Regardless I would have stopped out but I would have done so once instead of twice. The second time I got short I was playing off the resistance at $209.65 and the double top on the day. I got stopped out on crushing volume so when the level tested I got long. I got one piece off and, what do you know, got stopped out a third time! Beyond frustrating how choppy this traded. Later in the day there was some bad news released and market wide, everything started selling off. I took advantage and grabbed another short looking for a 1:1 win. I got it and walked away from this one with a small loss from the morning session. 


$MRNA
I've been watching this name and knew there was heavy resistance at $48.00. I got long for a second expecting it was putting in the turn but quickly realized I was going after it too soon and $48 needed to be tested in full so I closed my position. When it came crushing through $480 on the heaviest volume all week I got short then added when it came up to $48. I thought it would completely dump - no such luck. It turned and I got stopped out...




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