I believe that in absence of news, someone powerful can control the stock price of small cap compnay and the stock can fall pretty far as long as there are still weak hands who recently bought high for short-term and don't have the stomach to hold thru. When all the weak hands have been purged from the system, the stock then can go back up with good news. That powerful someone wants to accumulate a lot of shares on the cheap and sell them high later on when there is a buying frenzy. You have taught me not to get on margin, so I am on my guard all the time now. The stock is going thru consolidation and I don't need to buy NOW.
I know that you are a very savvy trader and someone of a high position. You are smart and very calculating on all the stuff you post here so I am just parsing your writing and read between the lines.
I got some MCP yesterday and some earlier today before getting in the gym. Sold the batch I bought at 6.51. Still waiting to sell the batch I bought yesterday before the close at 6.80. Have been lucky with the intra-day plays.
Okay, TMI, TMI.....All the best.
Thanks! I just came back from the gym...getting some exercise by playing basketball. It gives me a calm, natural high - good for my cardiovascular health which has been suffering from the tension in trading. Winning in trading stocks gives you a high in a different way, though. Losing is very stressful. No, I didn't buy....I am going to relax and take it easy for a while. Have other businesses to attend to, especially, today. All the best to you.
I cannot time the market as I bought the other 30,000 at $4.40 only to see it drop to $3.50 a month later. When I see double and triple the volume in trading the last 4 days and the bounce right back up, I figure it's the large funds that are accumulating and not the little guys.
I'll just ride it up for the 29th and determine then to sell or not.