I've been following DYN to possibly add to my portfolio. On paper its a great stock because its very volatile, but watching the spread on it makes me wonder how anybody trades it! It goes from a low of .10 to .70+ every 10 seconds! The volume is large around 5 million per day. That seems like a big spread for such large volume, is there justification for this? Do people make money trading this on a short term basis? My trades are 1/2 hour to several hours and I can't justify trading it, especially with IB's backward stop algorithm.
basically, don't trade this stock. This specialist has taken almost 50k from me this year. He's too good, and I've admitted defeat. There are easier stocks to trade out there.
I know why that's the case with DYN. It is just untradable. For some maybe.... but I've financed this guys new summer home. I give up. Thank god they took pvn away from him. I'm looking to load 6-figs of that soon and I'm glad that I can do it under someone sane.