When I was a trader one of my rules was to never b
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Posted On: 05/23/2019 5:36:59 PM
When I was a trader one of my rules was to never buy a stock that has been up three days in a row. Instead, wait and see what happens over the next couple of days. We had a nice little run on a percentage basis and no one should be surprised to see the stock settle back some. Actually, given we recently struggled to stay above .02, today's closing price of .028 is okay.
The huge number of shares lined up for sale is worrisome. Can't think of any good reason for that to happen. I don't believe it is someone or a few traders flipping to pick up a nice percentage gain. Too much time and effort to realize a small profit. I think someone has decided to dump shares they have been holding because they are afraid this nice little run is over.
Who knows?!! I will take today as an expected, modest, pullback.
The huge number of shares lined up for sale is worrisome. Can't think of any good reason for that to happen. I don't believe it is someone or a few traders flipping to pick up a nice percentage gain. Too much time and effort to realize a small profit. I think someone has decided to dump shares they have been holding because they are afraid this nice little run is over.
Who knows?!! I will take today as an expected, modest, pullback.
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