I will wait to see what happens today before buying back in maybe tomorrow
Traders are making a mockery of this stock. Selling at $1.96-$1.98 and buying back in at $1.88-$1.90. I am a small trader at 10,000 shares at $100 per penny profit. There are some traders trading 50,000 share blocks at $500 a penny. Just wondering if this manipulation could go deeper and the price could be run down even lower. The range has been changing constantly but still stays in that 10 cent range.
Trading this stock around a core position has been the only way to increase core position, lower cost basis, and make a little change. Some have also loaned shares out to make money. The risk is that one might not be able to buy back in if the stock suddenly jumps, however, it has been more likely that the stock goes down. It will be harder to trade when a few big boys jump in and buy.
You have to think about the money you can make. Right now you need $19,000 to buy 10,000 shares to make $500-$600. You will be able to buy about 7600 shares if the range is $2.45-$2.65. If you can make 12-13 cents in that range you are actually going to make more money. You are looking at $850-$1000. If you have that extra money, which most average traders do not, for $25,000 you could be making $1200-$1300. Granted, it will all depend on what the range is and at what price it will be but trading this stock is a long way from over.