I decided to watch $PBI. After Pitney Bows was showing on the biggest daily movers on cash-app (I know, don't judge). Anyway, after watching New Rules of Pennystocking, I was intrigued by a speaker talking about the turtles and their ways of trading.
So, I was curious and I wanted to learn a bit more about trend following. My main goal here was to learn to differentiate the uptrends and downtrends and it's buying/shorting opportunities and put my term knowledge and basic skills to a test.
Since I still don't know how to post my trades, I will just put it here.
Bought $20(2.077) $PBI @ 9.63- Big intraday spike in uptrend. Watched it closely as I knew it had to be a pump and dump. Noticed big buyers. I had the chance to sell for a few cents but decided to keep watching it to see if it would keep going.
Finally sold $PBI @ 9.63 for a breakeven. As I had predicted, the stock took a big dump so I decided to break even. Glad I did that because the stock is now falling and is currently at $9.50 and keeps falling. Yeah, no thanks!
My take on this is two things: I think I did good and I just wish I hadn't missed the morning spike. It seems like it's a multi-day runner with good morning spikes.
Anyway, I think I'm making good progress and $PBI just turned into a downtrend!
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