FTUS, FTUSQ, today a sub-penny stock, is a good example of trading bankrupt companies. Charts for 2003 / 2004 are longer available with their dropping to pinks under a new ticker symbol.
FTUS lost tremendous value upon announcing thier Chapter 7 filing, down to fifty cents per share. A week or two later, back up to 1.25 per share, back down, back up, back down, back up.
Swings for FTUS were consistently a fifty cent per share spread, over a matter of days.
Trading bankrupt companies can be very profitable but are outrageously risky. Traders can easily lose fifty percent in one day, or earn fifty percent in one day.
Glassman's "Q" stocks are for well experienced day traders, only, who know not to remain vested for more than one to three days, and are willing to jump in and out, multiple times.
Fundamentals will not help, technical charts will not help, only help is gut instinct.
Posts: 7504 | Registered: Dec 2003
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