Entry comments: Falied to cut loses quickly! KALA opened weak and I jumped into a short expecting it to tank with the rest of the market. It started fading from the $7.10 area to $6.90, which I expected. Then it started ramping up slowly to $7.10 and then exploded up to $7.90 very quickly, which was super unexpected given the overall market conditions. I set

Exit comments: Falied to cut loses quickly! KALA opened weak and I jumped into a short expecting it to tank with the rest of the market. It started fading from the $7.10 area to $6.90, which I expected. Then it started ramping up slowly to $7.10 and then exploded up to $7.90 very quickly, which was super unexpected given the overall market conditions. I set my risk at $7.28, and didn't cut loses when I should have. KALA eventually tanked, but I cut loses into the first pull back.