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Strategies & Market Trends : WR's Momentum Trades
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To: Kim Lim who wrote (6430)2/20/1999 8:12:00 AM
From: Wayne Rumball  Read Replies (1) of 11130
 
Oh I forgot, PRYD - this is very risky. I put $1500 in it, for me that is a small amount that I throw at extreemly risky plays.

I was watching it for about an hour, waiting for the bid to be more reasonable, then someone bought 15K and I said to hell with it, I'll get some.

I figure I'll either get out at $1 or .125, 50% loss or 300% gain. 50/50 chance it goes either way.

I wouldn't buy at current ask. If you have some cash to risk a 50-75% loss you might try to see if they'll take a buy at .25 - .30, you don't always have to buy at the ask.
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