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.
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...