For whatever reason most of the bulls on this board think that because I'm saying to expect pullbacks, and maybe even large pullbacks, on the way up, then I'm saying the stock is going to zero and that FIT will be bankrupt.........I'm a bull on the stock myself, so why would I say that???
1000% of the Microsoft millionaires and 1000% of the Apple millionaires will tell you that before their stock reached it's highs it suffered many pullbacks.....especially Apple, which was below $1 at one point. I don't see where I've said anything different.
LOL what are you talking about???? I've got a tad over $300,000 sitting in my brokerage account, inclusive of 1000 shares of BOJA at $24/sh, and I enjoy posting on message boards.......money doesn't always make the person. Then again $300,000 isn't much money to many....
Be more informative.........I see where you're coming from. Let me say this......there is a much, MUCH greater chance of dying if you're fighting in the Middle East than there is if you're sitting on your sofa in the air condition. Granted if you sit on your sofa long enough you will most definitely die.......but the chance of dying in the coming days to weeks is much greater if you're fighting in the Middle East.
In all seriousness no one can predict when a correction will happen. You have to weigh all of the factors......all it takes is one little thing to start it....and there are several things looming in the market that is creating a-LOT of uncertainty and anxiety......so my "prediction" is DEFINITELY sooner rather than later. If I were pressed for an answer I would say next week or the following week. The again that's just my opinion. I could be 1000% wrong. The correction that I believe is looming may have already happened a few days ago, but I don't think so.
...that anyone with the ability to watch tonight's episode of Mad Money do so.
I'm not giving advice. I'm just stating my opinion. I'd much rather have profits in hand and the ability to buy more on the way up, even if I do miss some upside, than I would to be positive on a stock, only to hold it and end up negative, and HAVE to hold it until it recovers what I previously had in the first place. THAT is where you lose 1/2 the run up of a stock
I agree........the stock will do fine and, as I've said numerous times, if you are an investor you'll do fine, but some on here think it's going straight to $70 without any significant pullback, and that just is NOT going to happen. I've never dogged FIT as a stock because I think it's a great story
At a 20 multiple that would be $3 bucks a share in earnings......a bit rich but not excessive for a growth stock.......
LOL you can always tell who those are that are nervous about their position....they always result to insulting. Let me guess, you're kicking yourself for not selling at $44 today after an incredible run up and are worried that you might lose more of what you made, but are not sure exactly what to do....
It's easy to look back and say what you say about missing 1/2 the upside, but that's the way it goes. Just think of what you would be saying it when you sold it dropped 50%??? If you want to be in regardless, then just set a stop loss at what you're willing to accept as a loss, and if it's never hit then that will mean the stock has done well. You want a stop loss in place when the market corrects......and a correction is coming...it's a certainty
Momentum shifts on a dime when it comes to IPO's.
I agree that a FitBit will be a good gift this year, and I have no doubt FIT will do well, but I would feel much safer with investing at current levels if, say, it were September or October........
Now there's no telling where this stock will be at that time. I'm nearly certain it will be above where it was at today.
As stated earlier today I felt a drop of 5-7% would be a good entry point, and it did just that....it dropped 5%......and I would have felt the 41.85 was an excellent buying opportunity had that not happened at the end of the day, and beginning a long weekend with all of the uncertainty.........I mean if you or anyone else is a holder over the long term then just ride the ups and downs and FIT will be fine, but traders need to be very careful with this. Like today and just like yesterday, this stock has shown it can have the legs taken out from underneath it in an instant.
I would have sold and waited to see what Monday brings. If Greece goes fine then you can always buy back in. So what if you miss a little on the way up? Hell of a-lot better than to lose half of what you've made
I've been guilty of this myself. People make a ton and expect to continue making more and more, and then when the drop comes and they haven't sold, they tell themselves the stock will go back up and continue to hold it as it continues to drop. The next thing you know you've lost more profit than what you've made.
With FIT, if you didn't take your profits today you're probably #$%$, but FIT will recover what it lost today, AND more, so don't lose any sleep over it. Just prepare yourself...as the drop may not be over just yet.
Actual investors will be fine. Traders are in for a wild ride and will have to hope to be on the right side of the trade the mm's are on.
I don't think it will reach $32, but $39 ish isn't out of the question. Momentum took this stock up, and momentum will bring this stock down........it's a cycle
I suspect today started with short covering and then ended with new short positions and people taking massive profits.
I tried to warn you about the drop as it was inevitable. That being said a TON depends on the Greece vote. A "yes" vote would bode well probably rally FIT. However, a vote "no" and you'll wake up Monday morning with this thing in the high $30's. Hey, if you have that much confidence then good luck holding, but I sure wouldn't hold this over a long weekend with so much going on that could tank the markets. I'm putting in a limit order to buy at $40 and a buy stop limit order at $42.75
What homework have you done that shows this going straight to $48???? There is not one single thing that warrants a continuous rise, and I don't care HOW good the prospects of a stock are. FIT prospects are great no doubt, but this is trading beyond market rationale now. Down a little up a little more, down a little more, up a little.......all of very small trades and volume that isn't anything but average if not a little below average. I've been in the market a long time and have made some tremendous trades and some not so good trades. My trade in FIT made me some good money, but not as much had I simply held through today.....but I can't tell you how many times MM's have propped a stock up just enough to entice small investors into buying, and then when the MM's feel it's time they yank the rug out and down it goes faster than you can blink. Look at the action early yesterday and you can see what and how quickly a drop can happen. I'm sure you realize it but you and I cannot drive the price of a stock up or drop the price of a stock....only those big players can do that.....and believe me when I say they could care less about fundamentals or prospects......once they reach a certain profit the WILL drop it like a rock and then start the cycle all over again. I'm ecstatic people have made good money on this, but people are in the process of getting set up for a-LOT of pain. Even Cramer said he liked the stock but wouldn't chase it at these levels.
Yes, in lieu of me holding from the IPO until now I've done the very thing you speak of. Other than commission fees I've done just as well doing that as I would have simply holding.......