Hey, get a nice win as this goes up, but I'm telling you, given the current scene, it's going back down. I will be shorting it. But I'm just one little retail trader... the big boy shorts will be all over this.
So... know when to take your profits. If it starts to roll over, look out. Many stocks retrace after gapping up around 9:45 - 10:10 am. Of course, it may continue up for a day or two... but it will come down. This is not my wish, it's just trading reality.
It came down from 11 to 5 in a month. So, what is your point?. It will be back up and day to day pullback after intra is common in every stock. I see strong move up. There is no price limit here. If you sit long you will win big. The shit will be over some time or another. Look at the history of MBI,ABk as an example, people bashed bashed and now turned around and giving heart ache. They deserve respect, not trading in single digits This is going slowly and steadily and with strong base. Don't expect a deep pullback. Only up from here, if you need to cover cover ASAP. Shorting puts more fuel and we long need that. Go ahead and short if you want to.
FRE dropped from $11s a while back to this current level ($5s then $6s now). Just went up a little (compared to ABK, SCA, PMI, RDN, MBI ... just name a few) the last 2 days, so gimme a break if you think FRE will go down soon. FRE still has more room to spike way way UP. Pull a chart for FRE and compare with the above stocks, you will see what I mean.
Well, I'm not going to argue that point. Maybe it will go that high. Actually, I hope you guys going long do get a nice win on this. I just know it IS going to go back down. But nobody has a crystal ball as to when exactly. So, keep your protective stops in place, and if it keeps moving up, use trailing stops.