Ann: Dividend/Distribution - OML, page-10

I sold $OML yesterday and cleared all my long position, I only hold the short position for ASX200 right now.
I see the downside risk for S&P 500 in the coming days, and that's why I sell OML.
The chart above shows how OML perform compared with S&P 500, as you can see every time the index tanks, OML will follow most of the time.
Last night the US market had its biggest fall in two months, and I think the current market is just too weak to convince me to hold OML into September.
And yes, you are right about how the institute investors are controlling the price not to give retail buyers any chance to enter.
The charts below for 08/2020 and 08/2021 do speak for your point, and I agree.





However, my point is, that the stock could go up to test 1.46 tomorrow and 1.525 in the coming days, just like it does today to jump over 1.375 and test 1.415 at closing. There is also a chance that it may turn around and head south.
If I jump back in today at 1.39, it could either go up to 1.46 (up 0.07) or go down to 1.315 (down 0.075). My RR would be like 1:1, it will not be ideal for me.
For my last trade, my entry was at 1.2175, SP was 1.20 ( down 0.0175), and I sold at 1.3525 (up 0.135), the RR is 1:7.7.
Unless I see a better RR, I will not rush to jump back into OML emotionally.
Yes, I do feel bad when OML goes up today ignoring S&P 500 is 2% down last night, which means I was wrong, but I have to accept the fact that we are human and we make mistakes, and not jump back in this stock trying to do a revenge trade. Otherwise, I will be making more mistakes.