dropped FTK

I got out of FTK on Tuesday. I only held it a week, and it was
languishing. I wonder if I sold it prematurely? I've read that once
you buy a stock, you should let your system get you out of it: either it
hits your sell stop or you take profits in it. This one I was a little
impatient with, but I did sell it at a 5% loss, which I think is a good
conservative stop.

A part of the problem was how I bought it, too. I bought it intraday
on a spike during a down day, so I was in a hole to begin with. The
lesson there is place a market or limit order before open.

It has rebounded a bit in the last 2 days, but I really want to have
something break out sooner than that after I buy it. There were a lot
of stocks that went up this week that I could have been in if that $
wasn't tied up in FTK. And IBD says to drop your weak stocks and build
up your winners.