So this "play" was entirely hypothetical. No money was traded. With Tim's plans on AVXL in mind, I thought that i would decide to try and "play" into this play at 9.20. I figured as it was as it was falling as a pump that there is money to be made on the drop. Although this pump was backed by a powerful newsletter as Tim said, I kept the possibility of a short squeeze in mind. I was watching the level II and was trying to see if it would break 8.82ish on the bounce which it didn't. It pretty much steadily dropped until it hit the 6.60s, but I thought it would go lower, it didn't, It spiked to 7.15ish. I went "out" on that uptrend at a hypothetical 7.20 It hasn't done much since then. I would have profit if I was executed on or around those numbers, but this isn't real life. No money was traded. This was simply practice and was intended to learn from. Volume has since then declined as well and has been hanging around the high 6s low 7s like I thought it would based on previous support and resistance levels. 

 Note: these guidelines aren't support and resistance levels, they are the levels that I am discussing in the paragraph above and have no indication of support and resistance levels. 

Am I on the right track? What did I do wrong? What did I do right? Im looking forward to the feedback!