Sandwich Review in NYC #16 (Pecking House)
Yesterday was like Groundhog's Day. Get owned on shorting a small cap, get upset, and then go eat a sandwich and write in a notepad and then publish a super-emotional blog post about a dumb preventable trading loss.
Got the Chili Chicken Sando at Pecking House. Their fried chicken alone is a must-try 4/4 but this is the first time I've had their sandwiches.
Duck fat chili oil, kewpie mayo, bread & butter pickles, milk bread.
4/4. Don't have many notes. It's a very simple sandwich that lets you savor the 4-star fried chicken unencumbered by other strong ingredients. I think I like it a little better than Rowdy Rooster's because the sandwich integrity is better--every ingredient is in one bite. I may retroactively downgrade the R/R chicken sandwich to a strong 3.
Morning notes
I can't believe I'm even considering trading this QUBT one last time, with a 20k stop loss limit. I'm both scared of it and scared of myself. The only reason I'm not entirely gone from my screen is because I still have some short calls position (my max win would just be 15k if they all expire). I'm pretty sure this week is the top but I'm still legit scared this could rip green intraday before finally fading off. Small caps just have tougher permutations and more intraday volatility than large caps. Gap downs aren't always clean reversals. I don't see an obvious entry. I only see the methodical entry where you start with the idea--'this is the red day thesis, stop at highs' and then you work your way in over time, smooth out your price and take some (hopefully modest) drawdown, trust that it will unwind to 16-18 at some point, even if you can't ascertain the exact timing. That's just too hard for me when I have baggage (negative psychology) on the stock.
BTW isn't it funny that we stress over so many little things like price levels, red to green price action, technical setups, relative weakness, over-extended charts... and then it's FOMC event driven volatility that drives down the market and the weakness trickles down to the overbought momo and junk stocks we tried so hard to figure out? TSLA went down. SOUN went down. MSTR went down. Crypto went down. The only thing that didn't go down was the one stock I was short... QUBT. I guess this is why options are nice sometimes if you're willing to take the premium to 0--sometimes you can get lucky on days like Wednesday.
I really need to look in the mirror and wonder WTF I'm doing with my life.
9:54AM Did not do anything with QUBT. Ended up being a weak open print on SSR (could one have sold a ton at a good price there on SSR? idk) that just waterfalls into prior day lows area... first high probability target already gone. It's either gonna bounce and be a big-h sell or its going to go clean to $15. I don't want to do the hard thing and I'm not gonna try to scalp for a small morsel. What difference does it make? See you in all in 2025.