Here is a question for stock traders. i trade futures but due to family relatives sizable investment ( and loss ) in lucent technologies I have been following the charts for a while. the liquidity and volatility are both excellent for trading. QUESTION; can 10,000 - 20,000 share lots be bought with limit orders in one or two executions or am i looking at a very fragmented trade??
I know a trader who only trades Lucent in blocks of this size. I don't know if he's still doing it since it dropped under $5. The advantage is that many firms cap their commissions for nyse stocks at $25, so you're only paying a fraction of a penny per share. There's definitely enough liquidity for it.
I have never heard of anyone successfully daytrading penny stocks on a regular basis. Anybody seriously looking at daytrading KM/LU/NT is cruisin' for a bruisin'.
I remember rtharp saying he had a trader in his office who traded LU and made good money. I wonder if he still trades LU at this price. At the time, I believe LU was in the $6-9 range...
LU is probably the next major equipment vendor to go bust, unless NT beats them too it. that's one stock i wouldn't want to hold overnight.