So i noticed that GSAT spikeed up hard on yahoo finance 69% yesterday  i think.

So my plan was to play the gap up the next morning when the market opens.

But when the market opened it went a little bit up and then down very fast!

 

I watched the level 2 and there was a wall of buyers and there was "hitting the ask" green color on time and sales.

But then it went down hard :) wtf

How do you play gap ups?

 

1: Do you need to play gap ups pre market ? maybe traders who played it premarket gained a little bit and planned to sell it when the market opened? So they sold it to suckers who bought ? Because they need to get rid of their "buy position" through selling the shares to realize their profits, am i right?

2: what is the white color in the  time and sales windows?

3: how can you watch level 2, it moves so fast, how do you guys do it?

4: what does it mean when a stock is downgrading by a investment bank, why do they do this?

5: i lost 480 usd, it sucks and hurts, but thankfully it was a demo account with tradezero and their level 2 is delayed by 15 min. I was so close to play with real money, i was so close to put 5k in this.

But it hurt :(

 

i appreciate all the help i can get to understand this, and what happened.
oh and yes, Sorry for my english, its not my first language.