Some of you may notice that there are many stocks out there that have tremendous runs for several days. They all are prey to profit-taking at whatever point, who knows--usually about 3-4 days after the first day of a huge gain. Tomorrow is day #3 for this one. My guts say it will spike early and close several points below whatever high it reaches at that spike. Totally guessing, of course. I would guess there' a bit of a short squeeze happening on this stock right now. After that settles out, it will drop several points. I'm not saying its a bad investment, but its pretty risky right now for any short term substantial profit unless you are a day-trader with your ticker handy, and your finger on the "sell" button, ready to press it the second the momentum eases. Volume in the last hour was impressive.
I traded Cybercash when it first IPO'd. Bought it at $49.00 after it had already run up to that from $28 in a couple days. The very next morning I sold at $62 within the 1st half hour of trading. It peaked at 64 and took a dive after that. Its been as low as $10/share, and is finally coming up again. I made $12,000 dollars in less than a day, and thought I was hot shit. I was actually just lucky. It was a stupid, speculative move. I agree that the internet is "happening". So is a lot of irresponsible gambling in the stock market. If you are brand new to this game BEWARE. There's a difference between investing and speculation. Good luck! This is getting close to a good short---short term, anyway----- |
