Seems to have dropped from the upper bollinger band to the lower and come up a little. looks like a sale here, but you never know.
hopefully York is still interested in the company. anyone else with thoughts?
GM - Any Takers?
i hope that doesn't look like bragging cause i'm not. i know many have done way better than me and have much more. by the way, i did the same thing on pier one this past week. as soon as they announced they would discontinue paying a dividend i was there waiting to watch it drop and pick it up. i did and sold it that same day.
i never, or rarely trade the stocks i hear mentioned here. penny stocks, never! (although i did make a little trading neom this summer when it went from .20 to .30 cents one day. i just wait around like a vulture for a good stock to drop and then buy. naturally the only way that works is to buy more shares thus moving the decimal point over a bit. txu is a good one to watch as well as chap. they always come back.
the best money ive made trading this year have been with txu, chap, hom, pier one and now gm. hom, i've only done once and that was before they were hsoa.
any profits i made i generally shift over to cei or acas and get the dividend and good growth.
bottom line: real estate is the place to be in my opinion. for me, daytrading companies with good fundamentals is no diffirent than going to vegas. its something i occasionally do mostly just screwing off. whereas daytrading penny stocks, especially that piece of s@@t SPZI... you might as well be playing bingo...
you're right,ub, the odds are certainly better but on a gut level daytrading for me is like deep sea fishing, or gambling in vegas. it's a visceral thing, i get off on the risk. i've never made big money daytrading like i have doing other things. i think i can do better there than at fidelity, how boring.
what baffles me is how everyone is trying to make money here trading on techincals. thats fine as long as were talking about at least mid cap company with strong fundamentals but to be trading .pk companies and penny stock in general. i can't imagine why anyone would take the risk unless you just feel its a better gamble than a lottery ticket. i bet the odds are better in bingo?
As a semi-pro poker player (meaning my car payment and groceries are paid by poker, my mortgage by a Real Job (tm)) let me tell you that only the absolute worst stocks are "Like Vegas"
When you lay a bet down, you either win and keep your bet plus whatever the odds lay you, or you lose it all. Period. With stocks, even when you lose you can pull out a significant fraction of your "bet". Of course that means your chance of doubling up or better is also reduced, most payouts are a fraction of your original "wager"
As far as GM goes, I don't really daytrade but more weektrade. I got in at 31.61 and out at 33.35 before it fell, -but- that was a ten day holding. Unfortunately I could have gotten a full point less four days after my buyin.
As for in/out 30.50/31.80 on Friday that's really close to the absolute low followed by the short peak less than an hour later and I would be curious if you used any strategy or just gut feeling (which would put you closer to the gambling right there)