My work is finished here. With proper trading techniques I made three great trades on this stock from the low 5's to 9.85. Starting with 400 shares I had 3000 at the end. In parting as this story is over (unless a buyout in which case the price is always at least 50% over value=18) I recommend you read Wykoffs books "How I trade stocks" and "Studies in Tape Reading" Congratulations to all whom have been so helpful on this thread. In case you are wondering I have turned my attention to RBC.
Why would he do that if he wanted to buy it back a buck lower. He did not want to kill the golden goose permanently.
Master, you're way off. OP has said he is a tape reader. Read Wykoff's book and you'll know. They go for quick turns, trading is a business and the good ones don't let losses run. They may make 2, 3,4,5 trades from the same side of the market, get stopped then ride a good winner. The rest like us are swing traders for specific targets or simply fundamental long term holders. There's a place for everyone and I welcome any courageous input. If you only want to point out someone's mistakes maybe these boards are not for you.
Now if you are true to your word. 8.40 was not the bottom. get out. re-evaluate. recognize a new strategy needed. this makes for disciplined trading
If you're in and need a target then use 9.20 on this leg. It's a long symmetric triangle from the December 13th low and Jan. 9th high.
The stock I bought at .007 and sold at .0025, I'm bought back at .0023. Didn't you like the way that 23million share offer at 3:30 was absorbed?
I wouldn't go that far until those "earnings" are audited. Let's just say there is a real product out there which looks promising.
My target on the triangle breakout hit at 8.40. Sold half. Then stop at $8.39 hit. I'm out. New money! Very overbought but use 8.38 stop if want to add. I'm waiting. Ultimate target=12.39
I just assumed with all your intelligent posts you were a technician and thus you are committing the sin of blending two disciplines. The path of least resistance is up as Livermore and Wykoff both talk about. You're fighting it. You must go with it. The Ben Graham model I worked out over 40 years ago says value is $12.39 but as you know I play the swings. So hope you can get in. The 39 SMA is around $7.55
I only play SKUL from the long side because I consider the stock undervalued. But having said that my Buy stops were hit at 7.85 and my sell stops are placed at 7.73. There are some chart concerns: yesterdays shooting star, a divergence on the Williams R, and the market indexes Bearish. I'm breaking many rules being long.
impossible. the monthly chart shows a big reversal in may 2013 and the famous cup and handle formation is developing. but take profits here and use buy stops to get in. the balance sheet is just too strong to be short