Good thinking. Could be a bit early but the idea is sound. Got some around 17 with stops at 16.35. I will wait for the good old T+3 (high probability on 15% plus dumpers) to see behavior and add more. Looking for 18.75 here, at least some attempt to fill the gap vacuum. Good luck, nice trade setups.
Bought another 100 bringing my avg to 17.28. Moving my stop to 16.55 and tgt to 18.74 (2-1 = +1.46/-.73)
I am adding more, don't even know what the average cost is, too much work to figure it out. Either we rally back to test the gap, or we be dead. The selling is dying down, volume drying up, and the pattern is playing out as expected. I bet you make money on your shares...oh wait, I am betting that I make money on my shares.
Please dont start with trading cliches. I am not adding recklessly to a SIZE position running away from me. When I fade a move I have a plan....I know how many shares/$ of risk ahead of time I am playing...I know when the position has become fruitless and I use strict money managment.
Only loozers quote trading platitudes on message boards. Averaging in is a proven winning system that works well for some people, and not so well for the impatient.