>>>No one really has much of an idea where a stock like this will go in the short term. it is a crap shoot...a stock like this acts like a yo yo. So it has a 50% chance of going up in the short term, and a 50% chance of going down in the short term. But in the long term, it has a zero percent chance of going up and a 100% chance of going down.
I like those odds, that's why I am short.<<<
Thats one theory. Another theory is that Bartel is already leveraging all the free publicity to get biz growth on fast track. Look for him on Leno, Letterman, GMA, Today, 60 Minutes, etc, etc, etc. With the growing name recognition from all the free PR, Travel Zoo may become a household name. That would mean revenue, earnings and market cap growth.
This theory is a carbon copy of Amazon.com.
Will it happen? Who knows? But as Virtouz Pagan kindly pointed out, if you're not protecting yourself with stops, sooner or later you may take a huge hit. No one can see the future. No one makes the right play every time.
The point is, wise traders use stops to protect their equity. Those that don't eventually get shaken out of the market, losers.
Virtouz talks about staying with his plan (stops), no matter what. That is the discipline that is required to suceed as a trader.
Highly recommended reading:
"TRADING FOR A LIVING"
"COME INTO MY TRADING ROOM"
both by Dr Alexander Elder.
I'm not knocking you Zarman. You and your buddy kfe1000 seem like good guys. I believe the Pagan's advise is excellent for any trader and I hope you consider it and prosper.
certain brokers, like TradeStation Securities and Ameritrade offer the ability to do this. When you place your order for 5000 shares, it will be executed in the block size you specify. if you specify 500, then only 500 will be shown at the bid. when that is executed, another 500 is shown...until the entire 5000 is bought. Ask your broker if they allow this
not too clear what you mean....
will try to answer what i think you are asking. This does not pertain to TZOO, but in general.
when doing intraday trades/scalpes, i usually buy between 5 to 10k shares of a stock. For scalping, it is pointless to do anything less imo, since you are looking for very small (.10 to .50) movements.
However, when i actually place a trade for 5K shares, i will diplay it in increments of 500 to 1000 shares (together they are still considered one trade and only one commission is placed). THis is more important if volume and volatility are not that great or if the float of the stock is small. Doing this will not "spook" the MMs and therefore will not tip them off as to what your are doing (ofcourse, if the see a large number of the same size orders start coming in, the smart ones might figure it out and start raising the ask on you...but, we can only hope they are dumb..:))
i don't ever show my hands. my stops are usually mental unless i am ready to take profit, at which point i use a hard trailing stop. when buying or selling, i do not reveal my entire hand, i show only 500 to a 1000 shares at time depending on the volume of the stock. for day trading, i usually do not do anything less than 5k shares, as it would not make much sense otherwise. on a very volatile stock like TZO however, i would go less, since it has huge swings.