$NAKD, $LINU, and almost $EGLT! I cut losses quickly, but I'm learning that a little patience goes a "long" way. I realized losses for $NAKD and $LINU, but this time with $ELGT, I refused! I'm not here to lose money, and realize losses. But, watching this one - I honestly thought I was in the Twilight Zone. It had at least three good articles out and yet, the stock tanked! It went - totally - in the opposite direction with the bears dragging it down!
So, my stubborn side finally kicked in and I decided to hold come Hell or high water. I knew I "PREPARED," and I was ready. The price action made no sense except for pure manipulation by some taking massively heavy positions and shorting the crap out of it. ...(cue the music to the Twilight Zone...)
But... after reading some of the recent comments tonight, I guess I was right after all. Other members have mentioned $EGLT - that it was on their watchlist and that it could go north over $3.30, etc. So, ok, I just need a little patience. I just need to wait it out... See if and when the Bulls come back - simply because they should.
But, that's the problem. I was cutting losses. I've been realizing loss after loss when the stock "should have" gone up because I "prepared." So, now that I know hedge fund mgrs are messing around with penny stocks.. Houston - we have a problem. These mgrs were not messing with pennies when T.S. started. His videos explained they don't want anything to do with pennies... but... apparently, that has changed.
btw.. MSNBC reported what I suspected was true. They covered the fact that hedge funds were buying up and/or shorting small caps. Meanwhile... those of us who are trying to grow our accounts are locked out of this or that due to PDT, min. requirements, free riding and settlement days... I don't see a way around this...We, the small newbies, can't compete with hedge funds.
The only thing I can think of is to either go for higher priced stocks, or those that may garner less attention from the hedgehogs. ...but I don't know what those may be. Perhaps those with so-so news... or with a history of less volatility or slower gains over time. When HF can block off entirely massive amounts of shares and just sit on them while the rest of us try to buy low with our high hopes based on the news... they, imo, are manipulating the market. It's unfair... So, if you, or anyone
has any other solution to this (new) problem - other than realizing loss after loss while our puny accounts dwindle, I'm all ears....
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