tymuse50Jun 13, 17 2:23 AM
Thats a great weekend. Lol
$4,530 Profit
XBITLong Stock
Bought the huge drop on Friday due to discontinuation of Phase III study, after it had looked to bottom, and was bouncing. Was risking off LOD at around $2.75, which was little further than I normally like. Was anticipating squeeze this morning, and got an awesome one. Sold some in the morning at 4.20ish and then the rest into the big squeeze prior to the halt. Will verify as always, when able to.
Newsletters:TimChallengePennystocking Silver
Broker:Fidelity
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| Date | Price | |
|---|---|---|
| Entry | 6/9/2017 | 3.20 |
| Exit | 6/12/2017 | 4.71 |
- Total Views1,378
- Position Size3,000
- Percentage47.19%
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CcobraJun 13, 17 2:30 AM
Great but how did you know 3 was a support?
2
RolandWolfJun 13, 17 2:43 AM
@Ccobra I didn't. It was halted at $10, opened at around $4.40, and then tanked to $2.75, which rejected quickly. There were a lot of people shorting it in the 4s and 3s after the halt, and it felt like a very overcrowded short, w/ some squeeze potential. I've watched quite a few of these drops now, and they are usually followed by some sort of bounce, as people who were short from the 10s and 20s will take profits, and the short chasers get squeezed. I was definitely nervous this weekend!
CcobraJun 13, 17 4:44 AM
@RolandWolf Thank you for the answer, I understand now your move although it was a bit risky. Well played!
GT500Jun 13, 17 5:11 AM
@RolandWolf Man you are good.
