So, I have never hold a stock overnight, much less over the weekend but due to my noob trading skills, that is exactly where I am right now. I tried to market order sell 5 minutes before the bell, and lets just say it didn't sell. Here's the details:
Bought into BIB at $43.28, only got 40 shares but that is a relatively big position in relation to my account size. I held it, came up a little, then dropped a tiny bit, but not low enough to hit my stop. So, tried to change it to market sell and the software got confused. No execution. Sooooo here I am sitting on $1700 worth of shares and I have zero experience in knowing what to expect when the stock opens Monday, where I should set my stop, how long to let it run if it goes up.....just really looking for some specific advice. Flame away if you want, I certainly deserve it, but would love the gift of your experience.
Where would you set your stop at and what would you expect?
Looks like the stock is prone to morning panics of approx $1.50 and I could live with a stop at 41.78 if i had to take a loss. That would be a loss of $60 but it also seems like it has a pretty decent chance at a run-up.
How would YOU handle this situation? Please please advise.
Here is my take on this. You are in a biotech conglomerate basically. Good news is that it won't go down huge. Bad news is this will be influenced by the overall market more than anything. If the futures are up Monday at the open, you are likely to have some more gains. It has been up trending so that is a positive sign. Not a certainty, but going the right way.
The spread is close and it doesn't appear to have a history of gapping down. I wouldn't sweat any this weekend over it. Just wait and see. Hopefully you will be pleasantly surprised.
Honestly, the best advice I could give is to liquidate your position immediately on the open. Since your plan didn't execute how you anticipated, it's best to get out and reassess the situation fresh. The community is here to support you of course, but unless you have your own reason for staying in the trade, it may be safer to get out to protect your account. Best of luck!
words words words hahaha i have so much studying to do thank you for your time! will post the trade!
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