This morning I bought PERI at 2.38 when it held premorning gap-up of 20 cents, opening at 2.35 today up from 2.15 close. 3 month high is 2.55. It reached 2.49 and I thought "I should sell" but didn't, rawr! It quickly headed south from 2.50. I had been so busy adjusting my mental stop loss I didn't think nearly as much about when I was going to take profits!!

There was scary downward action and I may have held too long, waiting through a failed bounce as the stock couldn't break 2.40 again. I'm a bit worried that I'm lucky I got to sell at 2.35, because from how reluctant I was I could have lost more money, but watched Level 2 closely and based my decisions according to that so hopefully wasn't risking too much. Only lost $30 and $18 was commission fees, yay! That's a record low loss for me.

Aside from planning when to take profits as clearly as planning when to cut losses, I think when I buy in a gap below resistance I need to sell in anticipation of resistance. Would've made me a few bucks on this one.

(Currently trading with cash account in OptionsXpress.)