Where's Quasimodo?I thought we had a deal whereby he was going to ring the bell when it was time to get back in. is he asleep? Has he forgotten? Or is he still waiting?
Now that we are back to $1.65 - 1.70 the danger of trying to trade this stock becomes apparent. Unless we give up the gains again, the maximum profit from pêrfect timing was about 20c. That's not much when you consider the downside.
Firstly, one could be wrong and end up never having either the courage or resources to restore one's former position. Now that would be seriously expensive.
Secondly, one could wait too long and actually miss the trading opportunity altogether.
Finally, there could be a trading halt and no chance of locking in the gain. Can you imagine how badly you would feel if you sold at $1.65, watched it dick around plus or minus a dime for a while and then had a re-open north or $2?
The point of all this is merely to observe that trading for short term gains is generally a mug's game. If you believe in Canaco sit back and relax. I, for one, am neither brave enough or clever enough to pursue the alternative.