I have been trading very light the last few days since my beating on (SQNM). That really is the opposite of what I should have been doing, but that was my current mental state. If I had stayed aggressive and took a few trades that I had lined up but did not pull the trigger on, I would have made up my loss by three fold. Trading is funny, you have to care very much about limiting your losses and using risk control, but at the same time you do not get paid if you do not take risk. It's a fine line and your current state of confidence has much to do with how successful your trading week is.
Today the market seemed to be ready to take on more risk and make a move upward that would send shorts into "cover mode" and getting the momo crowd all fired up again. Volume was light but price is price. If we can take out 105 and 106 tomorrow things could get very interesting.
(NTRI) had news in the afterhours that they will be selling it's meal plans in Wal-Marts. Can you say "oh my and by the way...bye bye shorts". Finviz.com has them with a 25% short float, short squeeze has them with a 26.5% short float and 7,509,700 shares held short and the shorts added 1,300,000 shares short in the last 1-3 days. Bad timing for them, good opportunity for traders to ride a squeeze. In the afterhours the price already hit a new 52 week hi touching 19.16 before settling at 18.60. The weekly chart has resistance levels at 19.50 ish, 22.60, 25.00, and 30.50 ish if it clears all that there is room to run to 42.50 in a hurry. A radar stock to watch for sure.
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