You, of course, are absolutely correct j.g.
Say you are a trader and thought the bottom would be at .17, .18, or .19 and you placed a couple orders to fill at those prices for trading positions. You would also then follow up any fill with a limit sell order as a stop gap if the price dropped on you so you don't have to watch and chase a tanking stock....so you set sell limits at .15, .16, .17, for example....some set them much closer and don't accept much loss at all.
I doubt traders who bought above .20 are selling now or they aren't very good at their game as their stop losses should have been much higher than .16, imho.
The Phantom always preached placing an order and if the stock did not move in the direction you anticipated within a 1/2 hour or so then sell, waiting just means more loss.
Remember...a trader can always (and usually always) re-evaluate a trading position in a stock, even after bailing on a failed attempt, if conditions change or timing was slightly off. This money can come right back in again.
Of course, as longs we are less concerned with day traders and short term position traders visiting our stock than with attracting new longs on new attention we get everytime a momo buzz starts anew. Its the traders who start the buzz however....somewhat twisted symbotic relationship or parasitism....hehehehe....but they generally live off the blood of inexperienced momo players than longs.
just an idea |
