I closed out 100 shares of $SERV without loss!
About
yes this is totally me
$SERV, the rollar coaster stock, GME of July 2024, traded at a volume larger than $NVDA in the past few days. And I wanted a piece of that.
On monday 7/22 I bought $SERV twice in smaller amount, watching it shooting to $12 in a trading range and made some money (see above)
then I got greedy and bought 100 shares at 9.85 (I thought this was well below 12 or even 13), and it did go go 10.5 after I bought it, I could've exit with $65 gain, but I wanted $100, so I waited (I won't do this again).
held from 7/22 to 7/24, I was mentally prepared to exit at 200+ loss
glad that I waited
i bought them at 9.85 and I thought it was never going to return at that level. I plotted like 7 horizontal support & resistance lines and prayed the latter get breached. it took them so many tries.
I was gonna write a blog post named "lessons learned after day/swing trading for 1 week: 2k unrealized loss"
now I only have 1k unrealized loss :)
the price target was $6, the stock wasn't on analysts' radar and it's got 3M daily volume while the market cap was <<1B. it was crazy.
on monday I bought 2 carts of foods from Aldi because I thought how I spend didn't matter compared to how fast I lose money :)
on wednesday around 1130 I was taking a snack break when I heard the alert beeps. multiple alerts were triggered. I rushed to wash my hands and sit back at my computer, and found that the rally was pushing the price to 9.6, and 9.7. it stuck at 9.5 for a while. I saw a much larger volume of sell limit orders at the ask price then buy orders, and I waited. 1 min later the price cross 9.85. I opened my orders page but my 9.86 limit order wasn't triggered. I set that order on monday, and I guess I set the time-in-force to Day instead of GTC, so it has expired. So I sold my 100 shares at market price immediately. That was the right decision, as the price went down within 1 min after I sold them at 9.95 and didn't come back to 9.85 in the next hour, when I wrote this post.