Non-binding preliminary acquisition proposal by Tencent
Buying premarket gap ups. Trying to cut losses quickly and take small profits. I usually end up holding into the fade too long and losing more than my max loss and not taking any profit that was available after entering the trade. Discipline!!
I bought this towards the end of a Friday power hour based on FGD and sold into strength Monday morning.
Entry: Day runner broke out of consolidation at $8.50. Exit: Didn't do anything all day. Got out before end of day.
SOGO had a 17% B/O minutes before the market opened and began to consolidate at the high of day. I bought into consolidation with hopes of a Bull Flag Pattern and another breakout. However, the company had a buyout offer from TenCent at $9 which indicated that the price would likely trade at or around the current price. I got out after learning this information with a small gain and to focus on other plays.
Never attempt to copy or mirror the trades discussed on this website or in alerts. Attempting to do so may result in substantial financial losses. Alerts are not provided in real-time. For that reason, it is highly unlikely you will be able to buy the stocks at the same entry price, or sell the stocks at the same exit price, to achieve the same or similar profits obtained.
