LOL I cant believe I actually have to explain this. Ford is one of the safest and liquid stocks on NYSE. And he does actually make moves so when I have that 5k shares going my way I can clean up on a day if I hold out for 20 cents. The stock took a 40 cent dive yersterday and had a 10 cent bounce. It so exteremely liquid that once you get real real good, you can trade it with 10k shares. It is consistent, goes by numbers and always has volume. Even on the slowest days, you can scalp it for a few pennies and make a few hundred dollars. It takes time and patience but you can easily make a living from this stock alone and I see opportunities in it everyday. Im not good enough yet to capture it all but the potential is so there. The only downside is the big factor that commissions play. For someone who claims to be so good with patterns and candle sticks, I cannot believe you are focusing your efforts on some hedge fund play stock that in times of chaos is all momentum and zero fundamentals and technicals. What will happen once the hype is done and the hedge funds move on to smth else? You have a gung ho cowboy attitude going into IPIX and I wish you luck but I think its only a matter of time before you get hurt.
Samutitrader That's a lot of info. Thanks for responding. I'll be checking all of those links out when the market closes. I say this. You just trade IPIX as long as your method of analysis works for you. Should you get to a point where your method does not allow you to wring enough money out of the stock, you have about 5000 others to chose from out there. Thanks again and good trading!!! Louie
I don't know why we're arguing, sounds to me like you trade them same as I do, taking pennies or .10 out of quick moves, I'm not in love with ipix but it has some great moves in everyday and i'm not hanging around for it to dump, I've made more money on it then they did last qtr, but when it dumps or breaks out it usually moves pretty good so I feel safer that i can get my .10 out when theres .50 there, I'm not looking to capture the whole move, I leave a lot of money on the table, but if I can make my goal I don't care, if ipix dries up then I'll move on, plus I don't only trade ipix, I traded evol today and yesterday, I have a list that I watch, and I don't claim to be a super chart reader, but I think I'm pretty good at it, at least at the patterns that work for me, I like the head and shoulders because they say if you look at the distance betwen the head and the shoulders line and it breaks then you can figure iit should move at least that much, so if you only go for a 1/4 of that the you should be safe if you lookat a 3 month chart of ibm you'll see that it just came off a head and shoulders bottom, broke out and could go as high as the measurement of the head, and there is a gap down and resistance right there, but if you caught that break you had 2.00 pretty safe I'm glad ford works for you, I don't understand why your so angry that ipix has been working for me, I'm not pushing the stock , just trading it
Some stocks I would never touch, not even for a trade, they are junk stocks: IPIX, MACE, SIRI, MAMA, OSIP, and so on.
I understand that an investor might not want to hold a stock regarded as a "junk stock". I can appreciate that as it implies prudent investing. But when you are trading stocks, junk or blue chip, if you can read the chart, catch the move and take some money off the table, who cares about the pedigree. I watch the level II's on SIRI almost every day and it looks to me like somebody is making money because day in and out SIRI trades a buttload of shares.
I think a lot them are junk also, but its because of mama and tasr that ipix flies on every news article, those guys on the ipix yahoo board are posting 24hrs a day even on weekends, its a momentum stock but i like the momentum stocks, people believe that ipix will be the next tasr and that keeps it alive , I think never traded mace, mama, or osip but I used to trade siri, you could trade 20,000 at a shot and get filled with no trouble and get .03 but they offered so many shares out that its tuff to trade now, it moves a penny all day long like watching grass grow, it did follow a nice head and shoulders bottom in dec, when it was at 2.45 it broke and went to 4.00, haven't looked at it in awhile
I got it from steve nisons tapes secrets to becoming a samurai trader, but too many people had samurai so I dropped the a I quess it has something to do with the japanese candles
Noone is angry, you got defensive. You state that you plan to make money on IPIX for a long time and that is nonsense. Tomorrow it could lose all action forever or get sold off into pennies. It's quite possible, the stock is pure junk. It's possible for any stock, but actually realistic for junk stocks like IPIX. It sounds like you're going on your ego instead of taking a long smart look at your trading in IPIX. Convincing yourself that you will make money everyday in IPIX is a recipe for disaster. I'm speaking from experience and the stocks that turned on me were solid NYSE companies that just happen to lose volume and turn into illiquid garbage for months. I also think it's quite dangerous to use any type of pattern or system in stock that are just hedge fund play things. You obviously got a system that works, but IPIX, man thats just too crazy.
I'm speaking from experience and the stocks that turned on me were solid NYSE companies that just happen to lose volume and turn into illiquid garbage for months. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- I think the problem here is , you think I'm not speaking from experience, you assume I don't know how to trade I hope to trade ipix for a good long time, It goes down ,its better for me because I can buy more shares, but if the hype goes away, then so will I, I liked it better when it was 7.00--9.00, and 5.50 as long as guys believe that this is the next tasr, I have to believe it still has some life in it, and unless they go bankrupt its not going to go straight down to zero, there will be areas to trade it, your assuming that if ipix goes south that i'm going to take the ride with it, like I said, I only scalp trade