I shorted GNIN because I saw it was bouncing a little bit. I figured that it would be a temporary bounce and continue to dump like the past Brighton Markets picks. However, the signals were all pointing to this being a bigger bounce. My hard headedness derived from this gain. I wanted to bank again so bad I was overlooking somethings.
Signs That I should have listened to that pointed to cutting my loss a lot sooner.
1. Stock has a lower market cap(less shares outstanding) compared to some other pumps. Can move quicker in either direction
2. They were issuing some good news that newbie traders fall for.
3. Volume was picking up which showed that people were buying because the news or because Brighton was cold calling again.
4. Emails continue to pump GNIN.
5. GNIN is so far from its highs. Risk of a bounce was high.
You can see that I went relatively big on GNIN and forced this trade. I luckily was able to put my pride aside and cut my loss. Today GNIN hit $1.50 in the morning. A very valuable lesson to all, stay humble and cut those losses quickly.
It looks like they are cold calling again so becareful this could bounce a little longer. This was a member in chat confirming that he got a call.