Lower Highs, Another Weak Close Too bad. I'm close to moving on from this one and scrapping my VAPE swing play into 4/20. VAPE is dead money right now and it is rotting. Volume is steadily dropping. The California legalization hype is waning. Zero information from the company and rehashed, weak pump attempts.
Still loving this volatility on the big boards. I closed all my short positions today with some 500-1000% gains on put options. The market may have more room to the downside but I can't be holding those kinds of gains. I've been shorting puts as well to cover some of the upside risk.
I won't be rolling any more profits into VAPE until the technical or fundamental outlook improves.
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