Why won't this stock come down to below 2.5. I am trying to buy some before the earnings and this bastard won't come down. I am hoping that there is some correction so that my order fo 2.49 gets filled before the 22nd. Piper and all the shorts: get to work. I need this stock below 2.5. thanks fm
Awww, sorry, I think you missed the boat, man! There was a great post-rally buying opportunity on Monday when the profit-takers and bashers brought it all the way down to 2.04. I took two opportunities on the way down at 2.15 and 2.05 to increase my stake severalfold over the piddling amount I bought right before it blew the roof off. They're idiots, but useful ones! I confess I was also hoping for a dip below 2.50 today, because I *still* don't think I bought enough, so I've got an order in for more just above the support at 2.39.
Here's a suggestion: Why don't you buy *half* of what you were going to invest at market price on Monday morning, and hold out for a dip for the other half? That way if it never returns to 2.5 you won't be left totatlly in the dust. Which scenario do you think you'll regret more when this sails into the stratosphere?
(a) You buy, then it dips, and while you're on board for the rocket ride, you look down knowing that if you had been more patient you could have gotten in for 6-8% less.
(b) You hold out for 2.50, it never dips, you don't buy, and you end up watching the rocket in flight from the ground, wondering why a lousy 6-8% ended up making the difference in your buy/don't buy decision.
If you're expecting it to top out at 4 or 5 and plan on exiting with a 50% profit, then by all means wait, but if you believe it's going to go to double digits next year, should you really be quibbling over a few pennies on the dollar? I had the same dilemma at 1.65 and decided to just pay the going rate. My only regret is that I bought so little. In fact, I followed the advice I just gave - buy half, then wait for a drop to buy the other half. I never got to buy the second half, but at least I didn't totally miss out on Friday afternoon.