I am holding mine (I bought 1K @ $41.50)... Even if it takes a couple of quarters, it should go back up to $50. What else are you going to do with your money? The market is moving sideways through the summer so you can sit it out in cash, take a risk on a market correction, or simply sit on your TWTR and wait for a likely recovery.
I loaded up for earnings and will get out this week, regardless of the price. if it doesn't "pop", it will slowly degrade over the next quarter like it always does...
It will probably trade sideways in the $2.7's for a couple of weeks, and then go down to $2.5's and perhaps $2.25... No rush, there are no short term catalysts to drive the stock up, and ARTX typically start any positive PR about 3 weeks ahead of earnings.
I typically buy 1/3 around each of the above points, and then hold until earnings. I sell 50% on the first day "pop" and then the other 50% a day or two later when its rally is exhausted.
Don't get frustrated that you missed this cycle. Just buy more when it comes down and sell it next time! :-)
I completely agree. It will gap up on good earnings for a day or two, and then slowly close the gap to the downside over the next 2 months, while it is getting positioned for a new earnings announcement.
Personally, I love this stock. It is my favorite swing trading stock...
Trading around a core is slightly different. You always hold a core position, let's say 5K shares.
Then if it drops to support (which it often does) you add 5K more shares, or double you position with the intent of selling those shares when it goes back up.
ARTX typically "runs up" into its earnings. You sell the 5K shares MINIMUM when it runs up.
In this manner, you are both swing trading on 5K shares, and always hold a long "core" position of 5K shares.
Alternately, you can do what I now do. Hold 0K shares and if is drops to support, but 10K shares and then sell all shares on the run-up. In both cases, the amount being risked is 10K shares. In the first scenario, you will have less potential gain, but you will always have a "core position" should ARTX take off...
Have you considered trading against a core position? I used to do this until I decided to simply buy and sell larger positions each quarter...
Sell now, buy again when it comes down to the low $2's, and sell at $3-4 when it runs up into next quarters earnings...
Been trading this stock "quarterly" like this for 3 years and it never disappoints. Check out the charts!
Entered at 95 cents for a hopeful trade. "Like options without expiration dates" I told myself!
After a few weeks of misery, I finally decided that BK must be leaked, so I decided to take a 50% loss, rather than 100%... Bailed this morning at 45 cents... Feeling sorry for all of the long term holders that have owned this from much higher levels as an investment, and hope it does turn-around for your sake.