The Tenth: Comeback

Ticker: MRGE

I decided to play MRGE and was happy that I only got in and out. I stuck with my advice and just played it once. I put a stop because I couldn't monitor it. It didn't work out, but at least I did not spend more on commission than I had to. 

I played this because it looked overextended. I wanted to short swing it because it made a lower low and lower high. All it had to do was go in my favor. However, the longs were strong on this one and it stayed put which means it seems like it just consolidated. This chart seems to be flagging and I will not have short biased with it unless it definitely breaks down. 

It was weak in the morning so I thought that it will just rebound quickly and fall again like it did on the previous day. So it quickly rebounded and I bought a partial position @ $4.40. I didn't rush this time and put a stop @ $4.46 with a limit of $4.45 because I needed to leave. Upon my return, it was resilient and I was stopped out.  

Note: I was happy that I did not rush this trade and let it test its resistance. I was going to short more more, but it just held the channel with a small dip towards the end. I would have covered lower if I had the chance, but was stopped out. 

Ticker: JOEZ

After my miserable loss with KRED, I went back to the basics. This chart was channeling for a while until it broke out. I knew that if it held its trend in the morning, that it was bound to go higher. I bought in @ $0.45 and will hold for a long swing. Maybe a day or two. 

Note: I wanted to buy more, but was patient because it was slow moving. I didn't get in at the best price because I rushed the purchase and was faked out by the volume. I will buy in the beginning tomorrow and will hold until the next resistance or higher. 

Note: This trade was to make up for my miserable attempt with KRED. I went back to the basics and found something that might actually work. It gave me some confidence which I deeply needed. 

BTW: I changed the format of my titles and will continue on experimenting to make it better. 

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.