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Here is what is currently happening.
The stock kept hitting this 7.30 resistance all morning. So I decided to sell as I didn't want to hold over the weekend. I got impatient as I as negative a couple hundred all week. I really wanted to sell at $8 however I settled for 7.30 because I believed I could buy it back again at 7.08 again later today. At the time of selling the high for the day was $7.31 and the low was $7.10. My largest winnings to date.
Entry comments: Small practice swing trade (Focus is on developing habits). Goal is to hit 10 in a day or two. Reasons to go in: -10% gain (could be better) -It is a contract winner (promoted by SeekingAlpha), -Broke prev days high, -Had more than twice its average volume for the day, -Closed at its highs (went in at the EOD when it broke the HOD, although it was a very, very small breakout)
Exit comments: The stock failed to break yesterday's high (only did so very shortly after market open, and very briefly, not convincing). After that it just became a bouncing ball, each bounce being lower. I held it but cut my losses once it broke the low of the morning. I should have cut my losses a lot faster! Still, good job not holding and hoping once that low was taken out.
Weed stocks are bouncing a little and this one reported solid earnings also. Had a nice green day yesterday and after a little drop in the morning some nice r/g action. Nice price action good spike, but I got scared out by fading volume and a pullback. It later hit my initial goal of 4.50, so at least I was on the right track Lesson: Don’t get scared out too quick if the trade is going in the right direction