lol...... so, how long will it be until someone makes a joke about my name and this ticker symbol??? but, wow, what a screwjob that specialist pulled. thats a good reason to stay away from news stocks and stick to your profitable, consistent strategy. its just too easy to give away a day's work in 5 minutes.......sorry bros about the losses- part of the game, but it still makes ya mad....
will cover the last third of my position soon... LESSON for all big bottom pickers: Don't bottom pick stocks that are trending heavily down. (2X avg volume or more)
The sad thing is that there were people who knew about the raid even before it came out on Bloomberg (or any other top news feeds). Not very fair is it?
anybody have any stories on this for Friday. Quite a few guys in the office were able to ride it down Robert
Some of the very best bottom picking opportunities present themselves under just these circumstances. High volume bottoms give a contrarian an edge, properly managed of course. The real lesson IMO is to realize that off the floor you are always behind the information curve, and the specialist sees order flow before you do. There is a risk in this that must be managed whenever possible, but it won't stop me from picking high-volume blowoff style bottoms. Tharp I saw the rollover in this on Friday am, and was tempted to ride it down, but after the whipping I took I was still too gunshy to jump in. Funny how it halted again as soon as it went low of day. That specialist goes on my Don't Trade list.