Reshorted CLTX at $3.25 on friday last week and I've been holding this for a few days. I wouldn't normally hold a position this long but I was expecting this stock to crash 30-50 %, so I gave it some time. It was forming a symmetrical triangle with lower highs and higher lows. This could actually go either way, breakout from the upper trendline or breakdown from...
Big drop out of the gate today so I played the other side of the stock. It was as high at $5.80 premarket and opened at $4.59, so it was downtrending. I waited a little before I shorted at $4.00 and then the morning panic began. I was pretty much comfortable with my short even though it bounced when it hit a few support levels. But it just cracked through them....
Not really sure what the catalyst was but I think it was about CLTX had reached a securities purchase agreement for a private placement with a select group of investors. CLTX was up 68 % yesterday. The stock didn't really do much until 11.30 AM when the volume came in. I didn't look at the stock until later on the day. I considered buying on the dips but wasn't...