hopefully you kept some dry powder available in case this continues lower. It appears "OIL" has found some resistance and it's possible we see it drop a bit before going higher. If that comes to fruition, one would want to be able to continue scaling in LOWER.
Just saying :-)
Just got some at 7.95 and hoping for next buy in low 7's.
Love some shares back lower.
BAS historical chart alone if followed, has made making money here elementary imho.
With basic DD, one could find many stocks begging to be shorted on unrealistic valuations.
Many savvy shorts here shorted near the highs as OIL crashed, with many cashing in for huge gains following bounce off $5.00 per share.
IMHO "BAS" is heading much higher albeit creating peaks and valley trades along the way in either direction.
I welcomed the 8% drop from 10.50 following the stock more than doubling from 5 to 10's.
ps. STOP trading with full positions. It's suicide.
I want shares back here LOWER.
Recent upside analysts coverage had a price target of $10.00 per share and we rallied to $10.50.
OIL popped 25% in April, pushing BAS stock higher and appears to have topped at least for now.
BAS stock rallied over 100% while OIL bounced 35%., following bottoms.
SHORTS got squeezed and could be a little upset lol and shorting again.
PROFIT takers like myself ahead of SELL in MAY and go away.
Personally I welcome a nice pullback in Markets, OIL and "BAS"
ps. I'd love the opportunity to buy back shares here LOWER again.
Nice pop on markets, but market correction is also overdue.
You clowns will ride this into BANKRUPTCY lol.
WOW..............Another YTD high.......Run seems to have legs lol.
Some profit taking this morning on first run into 10's, but here we are tapping 10's again.
I think we've seen our day high. Feels like a sell off may take place soon. Love to get some shares back lower.
Fact is, "BAS" shares have doubled in short order and why I sold $9.90. Personally I'd welcome a chance to buy shares back her 10-15% lower.
Early shorts near 52 week high clearly won here as the stock tanked some 80% plus. Longs like myself who came along following the carnage from 30 to 5 per share, have also made some nice gains.
That said, OIL may top out soon, if it hasn't already and retrace soon.
LOVE THE TRADE HERE
Payout on it's way.....and 13+ per share :-). OIL up 35% from it's low, but my "BAS" has doubled albeit I didn't get in same until 6's.
If NMM doesn't hold 13's, I'll likely dump shares after payout and try to pick them up on the cheap again.
CUBICLE_99 Short, or not my trading friend, at least I'm not talking to myself on this thinly active message board lol.
Love BASIC ENERGY'S historical price chart. The peaks and valleys of the stock, look like my deck view of our Olympic Mountain range here in the greater Seattle area.
Obviously there's a multitude of reasons a stock is priced where it is at any given time, but my focus in this message is merely the price chart itself.
Looking at the fall from each peak to it's valley floor. More importantly, note the timeline of each smaller mountain range between each major peak.
We just hit the valley floor recently ($5) and heading back up to what I suspect could be our next smaller peak, at which time the stock could retrace and walla a new smaller trading range. This smaller range could last awhile.
So to sum up (I must be bored this evening lol), I believe we could see our first smaller peak soon and retrace again, thus repeating previous smaller trading ranges.
BASIC ENERGY clearly follows OIL and as OIL bottomed so did BAS. OIL has bounced 35% from it's bottom, while "BAS" has doubled. It's my opinion OIL will top soon and retrace as will "BAS".
THE END :-)
ps. So you'll get that reversal for that short play in due time, but BAS may find 12-13 first.,
Dang, I even thought about shorting after seeing the carnage at TWTR lol. Oh well.
I'll eat my shorts if we don't hit 10's tomorrow :-)
Anythings possible and why I secured majority of my gains at 9.90 :-)