A lot of times traders profit on small moves.  I changed plans a bit to bottom feed.

Since ACOR was a larger cap and moved a bit more slowly I kept checking back on it.  It seemed be making higher lows after hitting .92 cents. I made a large position buy at 1.02.  A few minutes later it broke support and sank to .98ish and I almost bailed.  

At this time the ticker was close to lows, it was midday, and therefore might be a chance of a little perk.  I was aiming for VWAP which was 1.20.  I chose to hold on determining this was a minor pullback, and it began to recover and started breaking resistance lines.  1.03, 1.07, 1.08.  The next two steps were 1.14 and VWAP at 1.20.  I was prepared to exit at 1.08 if it turned south which pretty much put me at break even for the whole day.

It hit almost 1.09 and wavered in the 1.08 range.  As soon as I saw it hitting 1.07 I set a sell order and got out.  I had to go pick up someone from the hospital so the timing turned out perfect.

I don't know if the "bottom feeding" system works and I have heard of traders doing it, but the chances of profiting are much smaller than looking at huge gainers such as WEI and CBLI.  Both of these were overextended and I didn't want to risk a falling knife syndrome which probably contributes to 80% of my losses. 

 My goal was to try to slice into my losses and I reduced them by 65%.  A little red on the day.  Live to fight another day.