CXRX Trade on Dec 14, 2017 16:00 from konradengen: Tradervue User Stock Trades.

Bought at EOD, after it held up into the close. Thesis was that it could have a Day 2 morning spike, without any significant resistance up to 1.15. Did not have any news out, but I thought they would spike it up some more since they recently had some sub-dollar delisting news. Pairing this with the long-term chart, which suggested a continuation on Day 2. My plan was to sell if it gapped down, as I was looking for a quick morning spike. Sold pre-market, as it was trading under the closing price, perhaps a little pre-maturely. But ok to play it safe, as it wasn’t holding up like I wanted it to. If I had waited I would have stopped out around .80 anyway. My thesis of a morning spike was right, and it topped out at 1.09. I would still say my plan was good, and the trade was managed well. It wasn’t any significant support level to guide me to using another risk than a gap down. Also, the previous times it had bounced from the lows like this, the Day 2 moves have come after gap-ups and only going slightly red sometimes. The good thing with playing the tighter risk in these cases, is that I can use more size, and have bigger gains, although my win % will decline a bit. I will keep using the long-term chart as a guide to my risk, as mostly it gives good clues.

Lesson: Keep looking for stocks down huge without much overhead resistance.