Are you JOOOOOOOKING ?? a little tiny down from 35% to 30.89% in the day, after 500% in a few weeks and you are "DISAPPOINTED"?. Man, you should sell all your shares. You have a nice profit. If you want to see 50$ this is going to be even more painful for you. There will be MORE little disappointments, MORE bashers than ever, MORE "why did management did this and not that."
I see the Americas on the horizon.
On the positive side, after going up huge on each of the last 2 days, PVCT exhibited a closing pattern I call "hanging around the high."
Fidelity allows me a huge amount of margin for trades made just within one day as long as I close them by the end of the day I initiate them. I have never taken advantage of this, but some people do and if they see a "breakout" like PVCT and hop aboard, they have to sell at the end of the day. I am hoping that the small drop at the end of the day was just the momentum intraday traders who hopped on PVCT for a ride selling at the close because they had to.
But I know you could well be right. We have come very far very fast. DIodia
I worked on the trading desk for a small firm in the Deep South for 7 years held a series 7 and 22 license. We held our positions for extended periods of time but I know of at least 2 of our competitors in town who day traded for their firms before day trading became in vogue. I will date myself a little, most of our trades were executed via telephone to NY firms etc. up until right after I left the firm to go on my own. Computer trading had started to take hold and made it possible for individuals to day trade just like the licensed firms although level 2 and 3 were still not available until later on. I think a lot of todaYS LATE ACTION WAS DAY TRADERS WHO SMELLED BLOOD IN THE WATER but SENSed A SLOW DOWN IN MOMENTUM AND CLOSed their POSITION TO AVOID THE OPEN IN THE MORNING. They will be back in if conditions look right tomorrow. Its the ole hit and run, #$%$ and grab or what ever you want to call it but it can blunt momentum temporarily until the news comes out then look out its off to the races.