Earnings and merger news caused a tall pm spike that came halfway down into the open. After the open it made a nice deep bowl and then repeated. I got in as it broke over the previous high mark but it did not last and faded through VWAP. This is where I should have cut, but the previous support level was just a little further so I stayed in and averaged down. It never regained momentum and volume faded so I set a stop and let it stop out.