THE BIG QUESTION FROM A DAY-TRADING POINT OF VIEW IS DO WE HAVE A BASE NOW AND HOW DANGEROUS DO YOU PERCEIVE DAY TRADING THIS STOCK.
How dangerous is day trading this stock...
well. I guess if you are in for a quick buck, you'll need to be looking at some hefty purchases to make it worth your while. the volitility has been at the most a penny a day.
So, at todays price of 4 cents, 10,000 dollars gets you 250,000 shares.Every one cent movement up earns you $2500.
The down side is that every penny downward, costs you $2500. (when I say penny I mean penny, 10/10ths)
If you want to day trade anything higher, like 1 million shares, or $40,000 you would be creating a problem for yourself.
Day trading 1000 shares of yahoo is a lot easier, than 1 million shares of a penny stock.
If you have your eyes set on lower amounts, say trying to earn $1000 or $500 a day, I guess it is entirely possible , but....
I'd hate to have put in 10,000 dollars with the intent on earning $500 dollars, making the trade, feeling pretty good about it, only to watch news come out, that makes the stock hit a new level of stability, say at 7 cents. I'd rather watch it grow for awhile.
You said you bought in 1989. That indicates patience. Why not stick around and see if we have another e-trade in the making. A year isn't all that long. In fact, a decade ago, We were all watching Cheers on TV (sigh, time flies)
Bottom line. Tough to answer a question like that. |
