From the Trading Desk Bloopers and Blunders Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : From the Trading Desk Bloopers and Blunders

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bruce Mapes who wrote (3)	6/16/1998 5:00:00 PM
From: George McMeen	of 20

> - Don't try to guess the bottom when there is no apparent support nearby. I too learned this lesson - several days ago. I had been waiting for the chance to get into PTIX. Stock traded at $14 for 2 weeks. Then drops to $13 over 2-3 days. . . Unexpectedly, the stock dives to $12 - during last 2 min of trading I am in at $12 in this thinly traded issue. I thought good move as the next day it would bounce up. Next day, stock is up to 12.50 during first 30 min of trading. But then the dump continues. . . With the number of shares being turned. . . I figure it can either be 1 of the two major funds. . . Putnum or Fidelity. . . Bloomberg shows 10,000 share block sells while the only up vol is small investor 1,000 share blocks. over next 1-2 days, the price drops as low as $9 3/8 Lessoned learned - same as above: don't try to guess bottom when you are the only support. Cheers. George

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next