how long do i have to hold this bag to sell at 3.50?????
Will a stuck trapped bagholder like me who got suckered by the sweet poisonous bait of a meaningless pointless 5.24 open ever be able to sell and bail at 3.50??? Or are we stuck for life in the quicksand???
iF YOU are trapped in a stock that is famous for spiking up and selling off the same day... like MNOV, there is only one way to get out profitably. Set a limit order for your out price... where you bought the stuff... and go work the rest of your stock portfolio and forget about it. Set the limit good till cancel price for where it has hit in the past... and forget it. If you are fully in in MNOV and have no hope of it coming up soon, and need the money to invest elsewhere... you have no choice but to take your losses here, sell out, and try to get it back in other more successful stocks. I suggest one with a higher daily average volume that is a biotech.
good idea but I am following a slightly different strategy.
I bought 5K at 3.50 initially, which I guess I will hold until it touches 3.50 again
Then Now I am swing trading with another 5k shares whenever I see the trading opportunity in the 2.20s-2.50s range. I nother buy 5k at 2.30 or at 2.28, sell at 2.48 or 2.53, then wait till it sinks to 2.27 again to buy 5k shares which i will sell again at 2.50s and so on and so forth.
Holding 5k and trading with 5k. What do you think of that strategy to break even after being stuck and trapped in this useless meaningless spiking stock?