Should I Have stayed long?

Discussion in 'Trading' started by VictoriaG_Elite, May 20, 2003.

  1. The chat room that I was in called this player
    long from 10c today, and I managed to get in
    at .13, I sold it for a .14c profit. But I hesitated.
    On a player like this, is it worth holding on to?
    How do you measure the potential that it may keep

    Vicci G
  2. must be VRA
  3. it is vra
  4. how many stocks have you ever seen do 400% gain in a day? not many so how could you ever know it would go that far although the news realese had the right words in it.( sars drug ect).

    Viragen Files Patent Application For Drug To Target SARS
  5. intuition


    VRA was scalp fodder. You could have made 2-3 days worth of profits just scalping that thing today. Winners are spinners!
  6. gms


    You count up the float and subtract the number of shares traded since you entered and that gives you how many more shares will change hands on the way up. Actually, just kidding. You don't measure (that is to say, I don't) the potential that it may keep going. Instead you measure when it's weakening after it's gone up. Buy strength, sell weakness.
  7. intuition


    And while you are busy making your pedantic calculations, I am scalping it for the almighty cachingos. Stop theorizing dude, and trade the damn thing.
  8. gms


    Theorizing? Who's theorizing? Ah, you didn't read through my post to see I started with a joke. And so, your answer to the question to VictoriaG_Elite's question is... what?
  9. I just brought up a 5 day, hourly chart of VRA and I must confess that it is a thing of beauty... a price and volume consolidation breakout of the highest quality... it just goes to show that the market is full of possibilities... for those of you lucky souls who were fortunate enough to be aware of VRA and to get filled on it, well done!

    Now, as for how to play such a thing, there are many ways to skin a cat... scalping it multiple times or buying it once and holding would have both worked out nicely... the volume surge is indicative of sufficient relative liquidity to warrant the option of scalping it... a lack of such a volume surge would have probably led one to conclude that buying and holding was a better idea...
  10. Enrico D

    Enrico D

    They were talking of the buy entry at a lowball price of 20-22cents. I was hesitant and went long only 5k shares and took a profit at 35 cents, what was amazing was they told their traders to exit full position at 60cents.

    I rarely have the opportunity to trade these but it was exciting

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    #10     May 20, 2003