News of FDA drug acceptance caused several PM spikes. At the open, the price swung a little and it looked like it was moving up. After waiting 3 min. I got in at what I thought was the bottom of a spike but instead it was the top of an hour-long slide. I got out as quickly as I could once I noticed a clear slide. Lessons: CLQ, It is risky to guess the direction before the price action proves itself at the open. Wait 5 min. or catch it as it breaks out, but don't buy the dip immediately.