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Skullcandy, Inc. Message Board

  • benshometownflooring benshometownflooring Oct 2, 2013 7:58 PM Flag

    Trading Range

    So it appears that the new range is 6.15 low and 6.60 high. It used to be 5.10 and 5.75. With absolutely no news available, why has it changed? If there is good news on the horizon( which I certainly believe) why do people continually sell out. I get that the spread is a quick score, but what if the big news comes and you just sold your stake. This company is amazingly quiet.. I'm gonna pass on the small bucks..

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    • I have the TR as the 6.68 high and the next significant low, 6.10. The mid-TR is then at 6.39.

      It's a safe range to trade....strong ice at support and stiff resistance above. Buy at the low, sell at the high. You can keep a core position and trade with another. Or you can do what the CM is doing ..... buy at the low sell most but not all at the high (accumulation). You could even buy at the lows and then sell all but your profit. Then you'd be sitting pretty with free shares and since your cost basis is zero your rate of return would be infinity.

      The news won't come or won't matter until the CM is ready to launch indication of that yet....but he is building cause to go higher.

6.35+0.0100(+0.16%)Oct 3 4:00 PMEDT