Signed an agreement to buy another company called Dura Driver Control Systems (DCS). Went from 6 to 10 pre-market, faded hard. Small losses ok. It has restiance 9.56 on 62625. I chased it too much today. Best entries were 7's. Didn't hold the bag.
Signed an agreement to buy another company called Dura Driver Control Systems (DCS). Went from 6 to 10 pre-market, faded hard. Small losses ok. It has restiance 9.56 on 62625. I chased it too much today. Best entries were 7's. Didn't hold the bag.
High % gainer. No news. Massive dilution risk: registered up to 159 million conversion shares from discounted preferred stock financing, creating potential selling pressure as investors convert and sell into the market. Thought it could push to 13 to 16 prior resistance. Had resistance 10.37 HOD. Scaled out.
Entry comments: Speculative dip buy on this big runner off its highs in the 9s, looking for a bounce back to its highs or near its highs, cut losses if no bounce, big biotech runner with news
Exit comments: No bounce so rule #1 cut losses quickly, never forget http://tim.ly/clq protect, protect, protect, especially premarket
Attempted premarket breakout it failed could of cut faster - starting to get more experience on reading tape, i notised this wasnt breaking however i never reacted, now i know too
I meant to buy 5000 shares not 500.
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