Only long play here was to buy at open hoping the specialists as buyer of last resort holding the bag move it up soon for a quick trade. Historically a stock goes lower over the next month or two after a gap down. Plenty of better swing trades for the Santa Clause rally.
You are quite right, johnv60. It is against my rules to buy knives. I still have trouble resisting them.
Was just lucky this morning that I could profitably exit GME and ERTS. I'm basically dumping as many longs as I can jettison today. So far: WMT, COST, GME, ERTS, RFMD and GD sold. GD and RFMD will run further, but I'm taking cash as much as possible.
I like the market here for a couple of week rally into early January. Plenty of stocks that hit double bottoms on light volume in stronger sectors and much lower p/e's to mess with something like GME for a any trade so I passed.