Evening Jorj,
I've played PUMA for so long that I have come to realize nothing about it makes any sense. Generally, if it drops 10% from a 2 or 3 day average, I buy it and set a very tight mental stop. If I see ISLD on the ask, I see that as being shorted. Since it moves down much faster than it moves up, I watch it all day. But then again it can spike intraday by 10%. I see it as a 2 day hold max. Overnight 1 time. This costs me on the upside, but I don't forfeit 5 to 7 trading days waiting for a rebound.
So, if I were playing it tomorrow, which I most likely will, I probably will wait for the noonish drop of 5% or more and then watch for the afternoon rebound. On an $18 stock this is pretty fair change. Often the problem is selling more than 3 to 600 shares at a time, so I get stuck with some of my holdings. I do believe it is what I categorize as a "never-fear" play, meaning it rebounds well in the course of a week even if you miss the stop.
All of the above is targeted towards a flat or slightly down market. If the market runs hard, over 1% and looking stronger, I will enter on any dip with the intent of adding on subsequent dips. If it does not profit by the end of day and I hold, I will dump the following day prior to 9:50 am est.
Shootie |
