A fish story- The monster gain that got away.

Since I've deemed this psychology month.  I thought it was appropriate to discuss the "one that got away"  I just narrowly missed a monster... and that's okay 

I bought EYEG yesterday.   It had a nice price pop on news that I thought was a big deal as it had signed a deal with $VRX.

Here were my entry notes from yesterday.

I took the position long at 6.70.  It then got more news as it treated its first patient or something like that and ran to $8.00.  With a 7.80 bid. That bid gave way and the spread was 7.25 @ 8.00 then @ 7.55 I hit the bid. It had only traded 10k on the day.  I had a decent gain on a thin stock and I did not want to get trapped.  Here's what happened next:

BOOM!  a monster move.

So how do I feel.  Surprisingly, not that bad.  For every EYEG there are probably 50-60 that pop and drop.  I still believe I made the right decision in terms of probability. Although I was wrong to sell on this stock, Most stocks don't run 130% in a day. This one did. On most trades, a stock that's bid falls away is a sign of trouble so I got out with a decent profit.