Review: 01/15/15

Ticker: MINE

I only had one play today and that was MINE. I might have focused too much on it, but I had no other cash to play with. I sold higher than I bought, but I wanted it to go higher. I think I should have waited one more day, but I just didn't want to risk it given the experience I had with this one.

MINE gapped up a little this morning and broke the previous high. I was interested because I knew there was some volume with this. My plan was to sell out @ $0.011.

Look at this volume compared to ATEN. This us the type of volume I should expect for a nice continuation. I wanted to get in to test the water. I think I went in my 1st entry too early and should have waited it to retrace after it met the $0.0097 resistance. I should have waited for it to retrace and let it grind out before buying in.

Note: Remember about previous resistance and wait for it to test it. If it breaks it freely, buy in. If not, see if it holds support. 

I waited for a while and switched to 15 minute charts because it was just channeling. When I noticed its first lower low and lower high, I just got out before a small flush. To my surprise, I also caught a glimpse at the Level2 just being stagnant. I knew it was time to leave. I didn't trust this chart.

Note: I would have bought in if it broke $0.01 again, but I didn't have enough money. Maybe instead of selling everything, I should have just partially sold out so I had lower risk. It's just that my TDAmeritrades fees are so high, so it's just not worth it.

Prediction: I think it will run up to $0.011+ tomorrow before it just breaks down.

Please let me know if you have any comments or opinions. I would like to know if you have spotted any mistakes in my logic.