If you are underwater here say you bought at $7 or so, you don;t need to be out of the ensuing move tomorrow.
If you have a 1,000 shares at 7, you could throw another 1,000 at it at 2.. That would make your cost basis 4.50, but if you see it go to $3 and stall, you sell the last lot of 1,000 at $3 usig the last in first out setting LIFO. You mad 1K back. Rinse and repeat 4 or 5 times and if it runs pass $3 to $4.50 while your holding it you break even.
Do your own DD. You need to make the decision. But this has got me out of trouble 3 times already.
ATTENTION: You need to get the 2nd lot low. There is more risk if your secoond lot is at say $4. I am talking about this swinging from the 2.30 tange to the 4.00 range multiple times.
Be careful and do your own DD.
No, my strategy is two-fold you are playing the swing and also have the average down. Cash value I just learned is $2.17 a share. That is a floor and if breeched is way unreasonable and should be the floor.
I learned something. Thanks. This is not that since the asset value of the company is probably around 2ish. It should not drop much after that. I heard they have a good amount of cash but can't say I know what it is. I heard a range that is too wide and I don't want to spread mis-information.