posted
Hey guys, I'm new to trading and don't know much about L2's, reading charts, etc. but I've been watching this company for a few months and have noticed that the pps moves very easily on low volume. The truth is I bought in at .10 when a good friend of mine worked there. Since then he's been layed off and the price has gone down to .01 and now it's up to .02. The company has had to borrow money and do layoffs to keep operating. Just wondering if this is something daytraders would be interseted in. Thanks.
Posts: 1235 | From: Anacortes, WA | Registered: Apr 2005
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When I bought 10,000 shares in January it moved it up .01. While I realize it almost never sees any action it seems like when it does the price moves. Maybe I'm just showing my lack of education here but am curious and thought I'd ask some pros. Thanks.
Posts: 1235 | From: Anacortes, WA | Registered: Apr 2005
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I am new as well but what worries me about this stock is the fact that you got in at .10 And the fact of weither or not this will have bid support if the ask was to be the publics BID. Time should tell but no volume in over a week doesn't look like it would run unless a group picks it up.
-------------------- I can tell you whats good and whats not based on level 2 structure... Posts: 94 | From: Alaska | Registered: May 2005
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I had a feeling it might take a group effort,and yes, getting in at .10 was a rookie mistake, no doubt about it.
Posts: 1235 | From: Anacortes, WA | Registered: Apr 2005
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Oh, lordeee, I'm no pro. Just reporting the charts I ran. About your grand...whew, I dunno. If it were mine, I'd snatch the $200 and paper trade for awhile. Or, if you have other, winning positions, send the 200 into one of them on a dip...good luck, Leo.
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at the risk of saying too much, one last point; the rookie mistake was not your entry but instead your not having a planned exit...As one of the pros here has said, the rule of thumb in the "old days" was take a 20% profit but bail on a 10% loss...
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Thanks BuyTex, I appreciate your input and advice, good luck to you too in your trading.
Posts: 1235 | From: Anacortes, WA | Registered: Apr 2005
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posted
well, from skimming other lists, it looks like you're in QBID so if that pops like its supporters believe, you'll be lol at your glitch on this one. best wishes...
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Buytex I like your style. You really know how to put your words together. But sometimes asa investor you need to cut your losses and invest in something else. Usually if a stock isn't getting volume then i believe you should start to worry.. But then when you sell your shares for a lost a group picks it up and it flies so far up past the pps you bought in at. Thats OTC for you... But you can either wait it out or take a risk and sell and try to gain your money back some other place....
-------------------- I can tell you whats good and whats not based on level 2 structure... Posts: 94 | From: Alaska | Registered: May 2005
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lol, maybe my words *weren't* so clear...you agree with the intent of my earlier message: when you spot a mistaken entry, cut 'n run. True, I would not have entered one with low volume in the first place. otoh, I've watched pros cash-whip a low-vol play due to their ability to spot a weakness in the L2s, but I can't do that, so I stick to the rule of thumb about vol = or > 1mm. Still, anyone can mis-pick; the "sin" is in not having an exit strategy. Anyway, thanks for the kind words--I'm overnout for a band gig...I don't care what they say, rock n roll is here to stay!
quote:Originally posted by BuyTex: lol, maybe my words *weren't* so clear...you agree with the intent of my earlier message: when you spot a mistaken entry, cut 'n run. True, I would not have entered one with low volume in the first place. otoh, I've watched pros cash-whip a low-vol play due to their ability to spot a weakness in the L2s, but I can't do that, so I stick to the rule of thumb about vol = or > 1mm. Still, anyone can mis-pick; the "sin" is in not having an exit strategy. Anyway, thanks for the kind words--I'm overnout for a band gig...I don't care what they say, rock n roll is here to stay!
Well I have seen picks with weak level 2's run up so high. Last I seen was BXTRR and WAVAP which took in less then 30k in cash volume.. SBWL again took in over 2m in cash volume and only gained 1,000% gain. Alot of stocks like any stock just need cash to be thrown at it and you will see the increase... I have been looking around the boards for stocks with level weak level 2's which seem to be the stocks to buy now and the only one that popped in mind was USTX Might GAP and run very hard with Buying pressure so thats something we would have to look out for. But as far as SGHT you might need to be come friendly with a group leader and propose to him/her to get volume into SGHT and don't tell him/her you got in at .10
-------------------- I can tell you whats good and whats not based on level 2 structure... Posts: 94 | From: Alaska | Registered: May 2005
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quote:Originally posted by BuyTex: lol, maybe my words *weren't* so clear...you agree with the intent of my earlier message: when you spot a mistaken entry, cut 'n run. True, I would not have entered one with low volume in the first place. otoh, I've watched pros cash-whip a low-vol play due to their ability to spot a weakness in the L2s, but I can't do that, so I stick to the rule of thumb about vol = or > 1mm. Still, anyone can mis-pick; the "sin" is in not having an exit strategy. Anyway, thanks for the kind words--I'm overnout for a band gig...I don't care what they say, rock n roll is here to stay!
Well I have seen picks with weak level 2's run up so high. Last I seen was BXTRR and WAVAP which took in less then 30k in cash volume.. SBWL again took in over 2m in cash volume and only gained 1,000% gain. Alot of stocks like any stock just need cash to be thrown at it and you will see the increase... I have been looking around the boards for stocks with level weak level 2's which seem to be the stocks to buy now and the only one that popped in mind was USTX Might GAP and run very hard with Buying pressure so thats something we would have to look out for. But as far as SGHT you might need to be come friendly with a group leader and propose to him/her to get volume into SGHT and don't tell him/her you got in at .10
Thanks CC85, I had a feeling that might be the solution. BTW, I lived in Homer from 1996-1999. My wife was born in Dillingham. Alaska is a great state.
Posts: 1235 | From: Anacortes, WA | Registered: Apr 2005
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