RE:RE:RE:RE:RE:Who do you use to trade?Sadly your assumption is correct.
I'm actually on vacation in Bali, so my market hours are currently 10:30pm-5am. So I set my sell instructions up before bed (at $2.75 as well) and woke up hoping for the best haha. I say I'm long now, but I know if there's a crazy run up based on hype I will be prone to stepping out again in order to re-enter lower (perhaps only to recapture my missed 5k and get back to my original share count!)
FalconM wrote: @Seanigan
There was nothing wrong with that play. I did the exact same myself because you are absolutely right, the stock would have succumb to a short attack because why would it go up at that point?
The lesson I learned was that if there is anticipation of big news hold right up to the actual news then sell. I am not sure if it was someone on this board or another board who said "buy the rumor sell the news."
Of course if you are not going to just hold a long position you need to be more responsive to the news. I was able to listen to the throne speech and bought shares immediately upon the Gov. Gen mentioning marijuana legalization. I bought back in at 2.84 on Friday (I had sold at 2.75). Even though I did not maximize my gains I still stand by this plan because it eliminates a lot of the risk. Nothing against longs. Lets just say that I have really stretched my financial assets to capitalize on the legalization of marijuana and cannot stomach seeing lots of red for a long time.
In short, don't beat yourself up about your 'mistake'. It was a good plan with a single shortfall, you didn't buy back in on Friday (assumably).