RE:RE:Exited
Sthlheadr wrote:
exited ? Why the heck would you do that, this is in breakout mode. Your going to end up buying in for more next week
In the past 5 years this is the 8th "breakout" of similar looks, only 2 of those hit the mid 20 cents in prices, with 25 being the highest day ending price... That's why!
Now this one may have a different reason behind it, but for my money, the risk isn't worth it that this is the major move that sets a new standard trading level for this company.
If it sets a new level trading between 30-40 cents I'd be fine paying more later at 30 cents if I seen reasons for 8-10 cent upside on a short term trade.
I had a plan with this investment, and I've achieved it, now I shall reassess with my gains, I've done it with this company several times, earning $2760 trading this name over the past few years while never risking more than about $2300 in a trade at a time... I really should up my risked amounts for larger returns with how well I've done, but I feel this company is at the very high end of risky investments therefor I limit my possible losses. Also the volumes have been low in the past and several times I've had a couple partial fills when purchasing but I've never had a partial sell on the spikes on higher volume.
I also do similar tactics with Kelso Technology (KLS) which tends to have much larger breakouts and upsides that are more predictable, but still super risky.
My strategy has nothing to do with what the company is doing itself or outlooks in these cases, it's purely on market mathematics and how I can trade them to my advantage for what I feel is worth the risk/reward profile I'm taking.