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saw $MDR not hitting resistance at 7.30 premarket for a hopeful short which it did but didnt get in until 7.02 due to distractions but also to confirm it would break through the support. entered with 100 shares to test theory which confirmed and waited for a hopeful market open crash and covered half to get a small gain. waited for the bounce to reach 7 which it didnt solidly so i added another 250 shares and slowly covered as it started to slow down.
I tried to buy this again after I already cut my losses once and it looked like it was bouncing. This one was a tough play but I wanted to give it some time because it was an earnings winner and sometimes they spike on day 4,5, or even 6. I sold today for a bigger loss then I wanted but it's just not bouncing like I thought it would and since I have had a problem holding an hoping in the past I had to cut losses (which I should of done sooner) because I can't ignore rule #1.
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