Seth, I too like to play the range 18-27. Unfortunately, it's impossible to tell for sure where the bottom is, so I usually start buying at 22. Chase it down to 20-18. When the rise begins, it usually lasts about 3 days. Keep raising the stop limit price to within 1 or 2 points off the peak and let it stop out. The last play, I bought 1000 at 19 7/8, stopped out at 26. Before that, had 3000 at an average of 20. Sold manually at 21 when it stalled. You gotta watch this one very closely. Be prepared to move fast.
GWRX was favorably mentioned in the december Computer Shopper magazine on page 607. But the competition is no slouch either. The day after I got that issue in the mail, the stock began its latest 7 point, 3 day rise. The power of the press?
It could break down below 18, as you mention, and since they've never made a profit, it's anyone's guess as to how low they could go. On the other hand, it could go to 40 next time, which is why I try to let it stop out, rather than sell at what I know is its resistance (27ish). Don't bet the farm on it though, and don't get greedy.
Happy investing, speculating or day trading.
Ed Peters |
