Experienced TRADERS/INVESTORS: PLEASE HELP...
Some of you on this thread MAY remember me way back when MCDY suddenly jumped from about $6.00 to over $10.00 in a matter or hours. You could say I was lucky (and greedy... and a bit new to investing at the time) to be able to get in at $6.00 exactly a day or two before the rally up. Needless to say, I didn't sell (some of you may remember the reason for the 3 hour run-up, was a mis-print and/or misinterpretation of a news release regarding a big contract, which evidently turned out to be a normal contract). Anyways, so I stubbornly held on this the stock, rode it out in the past few months seeing it drop below $4.00 (and ignorantly not increasing my position). Now, alas, stock suddenly popped over $6.50 and my discount broker pushed the button and sold for me at $6 9/16 (essentially break even covering the cost of comission and margin interest for the 9 month period). Does anyone (if your still reading :) ) think this was a big mistake as I do now? Reason is, I didn't pay attention to the huge VOLUME today. You guys are probably right, institutional players are jumping in. But why? Are earnings going to be that good? I ultimately sold thinking this was another one of those blips when the stock bounces b/w $6.5 and $5.5 and thought I may be able to get back in at $5.50. If and when it does, I sure as hek will regain my position. My question is, should i get back in tomorrow REGARDLESS b/c there may be an imminent rally REALLY REALLY SOON? Please provide some advice. Keep in mind my investment knowledge is limited to about 1 year and learning. I do trade options and stocks now. If anyone cares to respond, feel free to email me or reply here on SI.
thanks in advance, QB |
