Did something different today. Decided to paper trade just to pull back a little. Trying to get too cute the last couple of days. Plus, I'm out of day trades >:P

$INFI - Good news and pre-market activity. Potential spiker. Float is 38M, volume was good pre-market, let's just watch this one.

Remember my rule.. remember my rule about waiting for the first pullback and not chasing the initial spike. 

Out of the gate, shoots to 3 from 2.45ish. That's a good sign, but then immediately begins to falter. Watching the sales and there's some huge sellers dumping shares like they were pre-market that aren't even popping on the L2. Maybe these were folks trying to get out from buying in a few months ago at close to 4, who knows? Anyway, I waited until we hit some sideways consolidation. At 6:42 it had fallen to 2.65ish and was holding in the high 2.60s, but dropped below VWAP some. My plan was to see if it could break VWAP for 2 candles and have some volume and I'd "paper buy". Drops below 2.60, but then begins trending upwards rather quickly. After 2 candles floating around 2.70 I make my paper buy at 2.70 with risk of 2.50 and goal of 50 cents (2.5:1). Out of nowhere, we were over $3, and finally almost giving me my 50 cents, but topped out at 3.19. It fell to 3.10, started going sideways a little in the 3.05-3.10 range. I was looking for consolidation and then another push, but that push turned into a dip. I decided to fake sell  at 6:58AM @2.92 for a fake profit of 22 cents/share, which at my current levels of trading, would be about $44. I'll buy a fake coke and be happy that on paper, I stuck to my plan and waited for the dip, and when the plan started turning again, I got out while still making a profit. I could've made a bigger profit, but that's okay. Even if I miss the meat, I still got a slice; much better than yesterday's boondoggle.