+$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
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