SwingTrade Member Forum

[Painterguy1]

Because news came out and the headline read " MRGE Shares to Remain Listed on NASDAQ" the stock exploded. I covered and impulsively went long. Then my "stupid-ass" read the contents to see that they were not actually granted the extension but the NASDAQ had not finished reviewing their appeal yet. When everyone else read that the stock came plunging back down. Since I think there is more downside risk than upside gain because of all the reasons I was short I closed my long position to sit on the sidelines until something is resolved one way or the other.

The short trade I knew the potential risk and I had a plan. The long trade was impulsive and a mistake. Live and learn. I will try not to do that again in the future.