damn right, not much downside risk! you already lost 140K on that trade based on today's close. still on?
ETFC....some nice news today. We'll see where it takes us. Still have the starter, however we're at even now. Think this has some room left. FAST....to risk this much on 1 trade is really not bright. This co. is on the brink of Ch. 11.
Nice trade there. Ignoring the idiots on this site is the first step to making money. Only thing they were correct about is the falling knife comment. Rarely do you want to play those. Unless of course you position only a small portion of your regular entry size.
Get out now, sell into any strength you can find. This ship is sinking. It's going belly up and under $1. You are way too early on a turnaround play. There are a lot of good books on value investing and how to invest in turnaround plays for newbie like you. Value Investing 101. The thing to do on a turn around play is to patiently watch and wait. Not get greedy, you got greedy. ETFC will be dead money for extended months to come maybe longer. You wait for the fundamentals to change the balance sheet to strengthen, earnings outlook improve. When this begins to happen, This will be evident and reflected in the stock price. BUT now The stock is declining and on a major down trend. You never want to be early and catch the falling knife there is way too much risk of BK to consider buying a position. No need. You watch and wait patiently. Keep your powder dry. Better luck next time. Educate yourself in the mean time.
And for this comment. First off to say something like that on a site like this is almost a joke. 2nd losing 50% of my portfolio isn't going to affect my financial situation whatsoever so yes I will have fun with my gambling addiction. 3rd. I've been INVESTING since '99. Not trading. I started trading about 2 years ago and obviously have been inconsistent as hell. Who cares? However, most of that CROX trade was made back through a few options trades as of late. You obviously missed the last page of that post. Finally this trade is back to even with low risk. I've got a position size a fraction of what my portfolio is. If you're going to tell me im doing something wrong here, you're crazy. That news today is a consequence of the valuation and that little "model" I was talking about. (Except E-Trade is like throwing darts). Every company does this down here. You see it happen like clockwork. But that's fundamental analysis and probably going to be a little over your head. ARAY, CHIC, TXCC, and even SFLK were all in this category as well as a few others. Some made out quite nicely and some have lagged. However at a certain price all stocks have EXTREMELY low risk and i have yet to come across one that didn't have a positive outcome (at least for the short-term). ARAY by far has been the best. Think you can tell me why?
Lot's of anger and fear in your posts. It's due to your ill advised investment in a stock caught in a major down trend and a co facing bankruptcy. Try reading the Intelligent Investor by Benjamin Graham Or Security Analysis. Here's a little advice kid....The first thing you'll learn in proper smart value investing 101 is to not be early (catch the falling knife). Never be the first one through the door. There isn't any need. There is way too much further downside risk and you are struggling with it now as reflected in your fear and anger. The thing to do is wait for the fundamentals to change, the earnings outlook to improve, the balance sheet to strengthen.... the stock will reflect this...Never try and guess a bottom. You will miss 99% of the time.....YOU WANT TO BUY ON THE UPSWING, not the down swing.....but you are buying on the down swing/bad rookie mistake. Great value investors like Graham, Lynch, Buffet will teach you this. Read a book. You'll learn to value invest correctly. It's pretty easy actually. A little basic accounting and some patience.
citadel is better than bank of america in examing the books. citadel is a hedge fund with the entrepreneurial mentality would look deeper into the books.
Wow...you're so smart. Your short is losing money as we speak. I think you have something better to do. This was a TECHNICAL trade for the most part. Something you should probably grasp otherwise I think you're going to have a rough time in this business. Keep it up though. You'll learn in the long run.