Strategy Description: PTCT is within a longer term downtrend, and had bad news come out in after hours. However it never even saw a downtick after the gap down until it hit green on the day. This is the first sign that it's a crowded short.
Second sign is the tape mentioned in the anti-playbook post. Basically it just wasn't rolling over and being weak on the open.
Third sign is simply the short interest being really high.
Accordingly, need to be shorting strength into levels rather than shorting weakness.
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