Trade #6 – $MSDI 7/5/17

+$58 on MSDI

Good news / Reverse Merger play (riding morning momentum, in and out)

MSDI caught my attention, positive news on reverse merger agreement. Strong run in the morning, I wanted to get filled at 1.75, but my buy limit orders kept falling behind price action. I eventually filled at 2.17 for 1000 shares. I was looking for a retrace / dip to buy in, I missed the chance at about 2.07. I got lucky this time, I almost bought at the top.

Shortly after I was filled, I noticed volume was dropping off (losing steam) & I sold @ an average of 2.23 in 3 lots for a gain of $58.

  • 500 @ 2.21
  • 200 @ 2.26
  • 300 @ 2.27

MSDI_7-5-17

As a side note: was watching MDR on good news of a new credit agreement, morning price action did not match plan to buy dip and ride the morning rise. the news didn’t have the effect I was looking for.

Finishing reading Reminiscences of a Stock Operator, re-reading Mastering the Trade

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