Learned Lessons from playing EYEG today for the A.M. spike (I am not good @ these yet, as I haven't got the timing down to get out quick before the pullback which is swift on these very low float stocks).  Knowing this, I bought pre-market (I noticed the P/A was erratic, first up then down several times...this bothered me too) right before the open @ 9:21AM so I could be slow and think, plus Etrade required that I call a broker to buy it, which they do @ times with volatile stocks...irritating. 

At the open it started to climb then quickly shorts attacked...it climbed,was attacked, and climbed and was attacked all the way from high 3.80s to 4.17...then was quickly subdued back below 3.80s before i could sell...I was stuck with a loss I didn't want to take.  It had finished the day before with a beautiful cup and handle technical formation up on the day 150% @ 3.75 then continued to rise a/h to 4.25. So how did I FIND MYSELF IN A FAILED AM SPIKE on this up trending stock?

The randomness of Stocks...if I simply accept that patterns repeat, even if almost exactly, the outcomes do not necessarily repeat...I decided given the price action when it stabilized @ support of 3.70ish near the previous day Hi of 3.75 that I would hang in for a bounce...that finally came @ 11:18AM and I was out with a slight profit.

My Takeaway LESSONs from EYEG are:

Cup and Handle Technical indicator cannot be relied upon as insurance that an uptrend will continue.

If pre-market price actionis erratic (going up then down up and down) it may be an indicator that the market open may not spike strongly and I should wait for the open to buy after momentum is steady in uptrend.

If momentum is weak for an AM spike Cut Out @ the first pullback when uptrend hesitates.

If I miss Exiting on a failed AM spike because of rapid pullback, and find myself too far underwater I may recover if support holds by waiting for the bounce off support.

Thanks for the memories EYEG...I won't be back! : )