Post by
tamaracktop on Dec 02, 2023 12:00pm
Most people can't remember trading histories in their heads
What u30 posted about the stock's trading yesterday is very true, to an extent.
There were very few sellers, but there were very few buyers as well.
The stock's price action for the better part of the day could best be described as "meandering higher".
Moving higher on low volume, and with no conviction.
We've seen that many many times recently, only to see it fade back.
I've never once even hinted that having been a broker for 30 years gives me the power to foresee the future, as one poster here suggested.
Never even hinted that. I'm not preposterously arrogant.
I only gave a very brief personal detail that I thought might be pertinent on a chat line discussing stocks.
I've made more than my share of mistakes. Much more than most here, and some very big ones.
I'll invite yoiu all to look at the one-day chart.
You'll see the stock flatlining at $1.40 up until 3:10 pm, when volume suddenly surges and the stock makes a sharp move higher, trading as high as up to $1.51 ( at $1.51 it was up 13.5% on the day ).
Forget the close, someone sold 1600 shares at the bid. That's immaterial.
I'm not afraid at all of sticking my neck out and stating my unambiguous opinion about stocks that I follow, I did it for a living, rightly or wrongly.
I think the stock is grossly oversold, I think yesterday was significant and signalled an imminent move much higher, and I'm very very glad I didn't get stopped out.
I'm looking forward to next week, and months.