My 7-Hour Trading Ordeal with Mink Therapeutics Inc (INKT)

On July 11, 2025 (last Friday), I spent about seven hours trading Mink Therapeutics Inc (INKT), and it turned into a butt-kicking that mentally wiped me out.

Things went very wrong and I'm sharing this recap—including references to my actual trade log and the intraday chart—to help others learn from my thought process, mistakes, and management. All times are in EST, and prices are pulled directly from my filled orders. And before you say, "shoulda had stops", etc. while not wrong; many trades that wind up working are from conviction and that is what I went off.

Initial Scalp: Quick Profit on the Upside

I started the day by scalping INKT as it ripped on MOMO Discovery and folks were discussing in our chat early in the session. I opened a long position with 500 shares at $37.12 (Buy to Open at 9:49:37 AM). While the full exit isn't captured in the visible log, this led to roughly $1,700 in profit on about 1,000 shares overall (factoring in additional positioning). At this point, I stepped away, as I wasn't fully focused on trading and was multitasking which is rather typical admittedly.

Research and Setup: Spotting a Potential Pump-and-Dump

Later in the morning, I revisited INKT and did some quick research. With only 23 employees and quarterly cash flow in the $2–3.5 million range, it screamed "yet another biotech pump" —especially given the reported efficacy data where their "treatment" showed remission in just one patient, and that was from a two-drug combo where Mink's role was unclear. It felt sketchy, like many other low on cash biotech plays.

Other market context:

• Tiny float, low short interest.
• Overall market was down about 200 points (e.g., Dow Jones).
• High volatility, with price swings of $5 every 15 minutes or so.

Regretting that I'd second-guessed myself earlier, I decided to short it, expecting a decisive breakdown despite the low float.

Entering the Short: Initial Position and Adding on the Way Up

I initiated the short around the $44–$46 level, starting with sells to open:

• 500 shares at $45.98 (10:52:43 AM).
• 300 shares at $48.28 (11:58:56 AM).
• 250 shares at $45.57 (12:05:23 PM).

The stock was volatile, but my ego from the morning's $1,700 profit made me overconfident. It moved against me, but I wasn't worried initially—I counted on a pre-lunch breakdown and added to the position as it climbed.

⚠️ Important point: I've noticed that on easy wins (the $1700), I give myself excessive leeway on subsequent trades and also think over-confidently. My biggest losses have been in these situations. Just take note if you find yourself in this situation.

As it pushed higher, I added more:

• 700 shares at $59.02 (1:15:56 PM).
• 500 shares at $70.72 (1:12:40 PM)—this was the top add, right near the peak.
• 500 shares at $65.41 (2:10:32 PM).

By now, I was short ~2,500 shares (accounting for all adds), with about $187,000 in capital committed. Every $5 move equated to a $12,500 swing.

Psychological levels (both price and loss thresholds) triggered frustration, but I stayed in, rationalizing it as a pump driven by social media spammers (you know... those low-follower accounts pushing the stock whether compensated or not) and potential secondary offering hype.

Further, the action at these levels felt like short covering rather than real demand. (Dip buying with quick sell offs) A downward halt gave me hope—every $10 drop would mean $20,000–$25,000 in recovery—but it resumed green, leaving me frozen in disbelief. At its worst, the price hit ~$75, putting me down $51,000 briefly.

No Hedging Options and the Turnaround

I checked for hedges like covered puts, but no options were available. This could have given me significant protection if the stock ripped higher. Fortunately, around 2:45 PM, the price gut-checked and started dropping. I began covering to reduce exposure:

• First, I covered the 500-share add (from $70.72) at $63.50 (1:13:42 PM), locking in a nice gain on that portion.
• Additional cover: 500 shares at $64.43 (3:13:36 PM).

Still down over $30,000, I debated holding into after-hours (AH), as secondary offerings often was the expected playbook for this company with only a few months of capital. Not comfortable taking a $30k loss, I decided to hold AH.

Post-market liquidity was decent, and the price continued sliding, putting me at a "comfortable" loss level. Gun-shy but disciplined, I covered in 500-share lots on the way down:

• 500 shares at $52.91 (5:03:17 PM).
• 500 shares at $51.80 (5:04:08 PM).
• 500 shares at $50.23 (5:04:48 PM).
• 100 shares at $52.01 (5:07:40 PM, partial fill).
• 500 shares at $52.25 (5:08:32 PM).

By the end, I'd closed out, and the damage assessment somehow showed a profit of $65—perhaps the hardest-earned money of my life.

Trade Log

Here's a table of the main filled trades referenced above (short opens and closes only; full log includes additional entries like smaller sells at $34.75, $37.16, and $40.45, which were part of positioning but not really important to the review).

INKT chart for reference

• An early flatline near ~$34–$37, followed by a massive green candle spike to a high of ~$70–$75 around midday (aligning with my adds and max pain).
• A sharp reversal with red candles, including a halt down, dropping to ~$41.78 by close (bid $41.00, ask $41.78).
• Volume exploded during the spike (green bars peaking at ~3.5M shares) and remained elevated on the decline, suggesting panic covering and dumping.
• Post-market continued the downtrend, closing within $1.00 of my final cover at $52.25—no secondary offering materialized, somewhat validating my pump thesis.

Lessons (I hopefully) learned

Conviction in recognizing pumps like this—combined with familiarity from past trades—helped me hold and add where I felt strategically. In the scheme of the overall trade I would have been $15,000 down if I didn't average down (add shorts) from close, but that is not necessarily a smart thing.

Again stops might seem smart, but in this volatility (multi-dollar moves per minute), they'd likely have triggered on irrational spikes, costing $6,000+ in whipsaws and wasn't in for a scalp, but a longer day trade. Sizing, timing, and ego were my pitfalls; frustration from greed and prior missed windfalls from prior "weak hands" also clouded judgment.

All in all, "account repair" sucks, but it's part of the game. I'm not eager for another 7hr sessions anytime soon, but sharing this might help you avoid a similar all day grind for only $65.

(Update: Since Friday close at $52.xx, INKT is trading at $28.22 on Tuesday 1hr into open. Weak conviction or poor timing?)

While MOMO Pro can't help you with emotions or greed, we can give you the "at bats" traders need to find opportunities early and often. Stay smart!

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