Post by
Hiddensecrets on Feb 11, 2021 11:23am
Games are PLAYED when you are holding GOLD in your hands....
I have seen this type of playbook before.
You have two culprits. The innocent naive daytraders whom put stop losses and, then you have the white collar crime squad.
A short attack is planned where the criminals unhold shares at market, they trigger avalanche of shares from the stop losses and, they accumulate at a very low price.
This is how you STEAL shares from people.
It happened on Dendreon which I owned at $ 3, rallied hard to $ 22 per share in one day, was stable, then criminals walked in, and in 2 minutes flooded the market with shares, hitting all the stop losses and driving it to $ 7 per share. There was a halt and next day opens at $ 22 per share. Criminals stole the shares from innoncent people. Good news was that stock rallied to $ 54 afterwards.
The LESSON is this: NEVER PUT STOP LOSSES
I never use stop losses, never, never, never, I may use limit orders to sell at a certain price BUT never stop losses.
I hope everyone has learned their lesson on this, it is too bad as they stole some good shares at a cheap price from very naive investors.
Now that theft is done, we can EXPECT TO RALLY.
For myself, nothing is affected as my sale ordes are at $ 5 per share, and then will move them up to $ 10 per share.
MPO