***OT*** << No momentum trader owning ASND today would still own it if it dropped to $32, so your scenario about it dropping to $15 is irrelevant for them>> What has been the largest point decline in ASND's history? From $36, a trader may not have the opportunity to get out at $32...Even if they could, how many 10+% declines does a trader have to endure in order to get that 1 point on the upside?
<<Easy. If a stock is at $50, you see huge volume driving it to $52, you buy at $52 1/8 and then sell half an hour later at $54, then who cares what the company does? The only thing that matters is that $52 1/8 is about to turn into $54.>>
Oh, but you make it sound so "easy!" I contend that it's no more easier to do that than it is to say that Indiana had won 5 in a row so they should be able to cover against a struggling Michigan team. Nyet! And, you know what? Day trading is just as addictive and can ruin a person's finances just as quickly. Gee, all indications pointed toward Indiana covering....whoops, they lost by 40+ points. The only good thing about it is you don't have to pay for each point when you gamble on sports!
I'm not saying I have the only correct methods for selecting stocks. I've been wrong many times and will be so many more in the future. I'm saying that I'm investing, not gambling. Day trading is gambling. Period. By ANY definition.
Oh, and it was KO... <g>
regards,
greg |
