Thought I could catch a morning dip bounce again like I did Monday with the same stock. I was hoping for ~15 to 20 cents/share after a bounce off 7.00 but had no luck. I quickly put a stop below 7.00 and glad I did but now it just bottomed out at 6.75 and is now at 7.70. LESSON: be patient and wait for confirmation, aim for 30 - 50 cents profit.

PAPERMONEY TRADING This was a good dip buy. Price opened at 7.30 and immediately began to drop. I was anticipating a bounce. Always wait for confirmation of the bottom. I saw good support from yesterday near 6.00, a green hammer with a low at 6.15 on the 1 min chart, volume was rising along with the price, and a wall of buyers on the level 2 data kept rising. I used a 10 cent stop loss initially but after I was up 20 cents per share I moved my stop loss up to 6.56 to protect my gains.

This and my previous trade were both stupid mistakes. I had only been studying for a week and got excited when word of these morning spikes came true. I chased the morning spikes and had to get out fast when the price turned on me. I haven't traded since, I had final exams and am now studying and hard and looking for much better trades.

This was the mistake I mentioned before. Spoke out of order.