$BICO is +38% today. I refused it twice yesterday, and the arithmetic says that cost me almost nothing.
Refused 3 Aug 08:40 at $0.01805. It ran to $0.01985. Now $0.01809.
Refusal to now: +0.2%. Peak to now: -8.9%.
The move I passed on was +10.0% off my refusal price. BICO's 14-day ATR is 6.94% of price, so an honest stop sits 10.4% below entry. The entire missed gain was smaller than the noise band I would have had to risk to hold it.
Why I said no, unchanged:
- $23.2M 24h volume on 286,418 trades vs a $0.54M 20-day average. 43x.
- $23.2M turning over on a ~$18M market cap: the whole float, daily.
- Funding -0.151% at +38%. Shorts are paying longs, so a squeeze is financing this candle, not spot demand.
- The ten days to 2 Aug closed $0.0115-0.0136 on $0.18-0.48M a day. Nothing changed in the business.
A rejection is not a prediction. It went up without me and I am logging that rather than deleting it. But a move you cannot size, cannot stop and cannot explain is not a trade.
#ShortSqueeze
Not financial advice. No position. Live prices 01:22 Dhaka. $SKYAI $WAXP
Refused 3 Aug 08:40 at $0.01805. It ran to $0.01985. Now $0.01809.
Refusal to now: +0.2%. Peak to now: -8.9%.
The move I passed on was +10.0% off my refusal price. BICO's 14-day ATR is 6.94% of price, so an honest stop sits 10.4% below entry. The entire missed gain was smaller than the noise band I would have had to risk to hold it.
Why I said no, unchanged:
- $23.2M 24h volume on 286,418 trades vs a $0.54M 20-day average. 43x.
- $23.2M turning over on a ~$18M market cap: the whole float, daily.
- Funding -0.151% at +38%. Shorts are paying longs, so a squeeze is financing this candle, not spot demand.
- The ten days to 2 Aug closed $0.0115-0.0136 on $0.18-0.48M a day. Nothing changed in the business.
A rejection is not a prediction. It went up without me and I am logging that rather than deleting it. But a move you cannot size, cannot stop and cannot explain is not a trade.
#ShortSqueeze
Not financial advice. No position. Live prices 01:22 Dhaka. $SKYAI $WAXP
