I have a question for some of you with more experience than myself.
I am trading out of a 401K so my options are very limited.
I own 5000 shares of celm - at 2.91 as you all know as of last trade.
How do I get the best bang for my buck ? I am assuming I will lose at least 50 % out of the blocks.
At 9: am (or as early as possible) if they allow pre-orders before the market opens, should I (for all 5000 shares).
1) put in an order to sell at market price ?
2) put in a stop loss at 2.90 ?
3) put in a sell limit order at 1.45 ?
4) put in a sell stop limit order at 2.90 with a limit of 1.45 ?
Which will get executed first ? Thanks.
I think I will simply put in a sell limit order for 5000 shares at $ 2.00 at 9:25 AM if my system will allow an order. I probably won't get it but it is worth a shot. One never knows. It is possible that an order will not be allowed until after the open at 9:30 am.
(then I would have to wait and make a decision then). Does anyone know if an order can be placed prior to the open , the first session on the pinks. ??
If they get relisted, ergo they are legitimate so I will only sell at a profit...my new rule as on average I'm better off to take the occasional beeting than to sell prematurely at a loss...
I bought because I thought it was a good deal at 2.91. Why else would I buy ?
My logic is that it's better to lose 50 % rather than 90 to 100 %.
50 % gives me 7,275.00 to work with, trading on a different stock.
A 90% loss gives me only 2,910 to work with.
Since I don't know that it will ever come back I need to be thinking about possibilities now.