>>I don't get it . . . even though BII is up. It's the same as every other day, open high, go a little higher, by afternoon fall to down and close right around previous days close. This stock is being blatantly manipulated. A so called "volatile" stock. Is it really, when you can time by your watch the rise and fall and have a real good estimate at where it will close. Is this stock the brokers dream come true, manipulate and keep the price within and keep your little gold mine full!<<
This stock is indeed moving up, and the last few days the closing has been higher. The closeness of the listing, and the news releases it has been putting out are moving it up again. That said . . .
We have a TV show up here in Canada called "Traders". It follows the ins and outs of a fictional trading house. I believe that it should be required watching for new investors. How they work to manipulate the market is quite interesting. My analogy is that these trading houses are basically high tech slaughterhouses. Any unsuspecting or ignorant investor / speculator who walks into the arms of these traders will be slaughtered. They stand outside and wave the unsuspecting into their pits and then they strip them of all their available cash. What I can't get over is just how many people still keep coming back for more.
If anyone spends some time watching for trends on specific stocks, then they can profit big time. Just try to determine the probability that what has happened over the past few months will happen again today and tomorrow etc.
This is why I believe in buying, holding, and buying more when the opportunity arises. I don't want to day trade this stock, because I think that this one has a real chance of hitting the Nasdaq. As I have said before, it would kill me to be out of the stock or to be short when that NR comes out. I know that several people are trading it successfully, and there are ways to protect yourself, however in this case it's not for me.
I also think that there are many, many better opportunities to make short term money. That is why I like and trade options. The leverage and risk return is staggering. I will not risk my long term holdings to support short term plays - I keep those locked away, and I rarely look at them.
Yes, in the short term it is frustrating (and I hope that they don't cook the golden goose by screwing with the price), but it is the long term outlook that keeps me in - make that in with both feet.
We'll get there.
Crazy Canuk |
