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Good to know. It will be interesting to see what I find out from Ameritrade.
I see. I'll have to call Ameritrade and ask. They are also very fair about margin calls. Although that's only been caused when the price falls and my balance is too low. Not sure how that works either, but I know I've never used margin to buy a stock. Too risky for me.
You're right. Things must have changed lately. I just looked it up, and the short interest on SIRI is only 6.5%.
A question for you. Are shares unable to protect if bought with a margin account, or bought using margin? (As in borrowed money). That would make a big difference.
I have a margin account, but have never bought shares on margin. If so, I would go out and put a high sell order on my shares right away. I know TD Ameritrade lets you go pretty high above the current price.
Good plan...and great approach! It does suck though that shorting is allowed to kill a good company. Sirius XM comes to mind. Very heavily shorted.
Right, during the big credit crunch, many banks were made illegal to short.
Right again! I'll have to do some reading today, but it's been my belief that putting a high sell order on shares in a margin account doesn't keep them from being shorted. It only works for shares in a cash account. But I'm not 100% sure of that fact.
Again, the best solution for this would be to just make shorting illegal. And BTW, there's been a lot of talk about this lately.
Right! And that's about the only way a large group of people getting together to do is going to affect short sellers of the particular stock.
Flipping and short selling shouldn't even be grouped together in the same sentence.
I'd be happy if shorting were banned completely. It creates an artificial market by increasing the number of shares traded beyond the number of shares issued.
Selling on the way up is just as strategically sound as buying on the way up is.
Every time I've put in a buy order, my order is filled immediately. (When buying at the ask!) I don't know why you feel shares are limited.
I believe shorting hurts a stock price, (which I will never do as I've already said), but once again, flipping, (the same as selling), adds liquidity to a stock.
Flippers, (or otherwise known as daytraders and short term swing traders) provide liquidity to this stock, and that's a very healthy thing for a stock.
Question for you: Do you ever plan to sell this stock?
You haven't made any money until you sell the stock. Even the great "Buy and Hold" Warren Buffet sells stock.
YES SIR! That's how it's done! Granted, once in a while a PR comes out and catapults the stock to the moon before you can buy back in, but, as you said, normally, a drop in the PPS follows a big run, and you can move profit to your bank account and still end up with more shares than you started with.
Besides, maybe not the perfect scenario, but if it runs before you can buy back in, you can still buy back in when it starts running and still make big bucks!
There are many styles of trading, if you like "buy and hold", by all means that's what you should do then. Warren Buffett has certainly proven it works.
It all comes down to: Plan your trade, and trade you plan!
Just for the record though, I totally disagree with shorting for many reasons and have not, and will not ever short a stock!
It's certainly looking that way.
Interesting looking 5 minute intraday chart. It looks like a staircase!
Strange trading going on.
You're right. Although this is on the NYSE MKT, (or the old AMEX). I just wonder if that isn't closer to the NASDAQ with the MM action.
I'm by no means an expert on Level 2 though.
You could very well be correct, but I've always thought that when you see a lot of small lots steadily going through, it's an MM filling a very large order, and trying not to move the PPS up at the same time.
Thanks!
I don't remember where I read this, it was a book on Level 2 though. MM's will actually sell back and forth to each other to create volume and attract more action.
A lot of trickery goes on. It's too bad, but it happens.
Sounds like a great plan. That's how to build the trading account!
By the way BLUE, thanks for being persistent and staying on me about BAA. I had my doubts at first it would go anywhere. But you were absolutely correct on your call.
Thanks!
Absolutely! I haven't sold anything yet. I'm still accumulating. I'm actually surprised it didn't run out of the gate this morning, But I'm betting this is early morning flipping from people day trading, or very short swing trading.
It's got a ways to go up yet today!
I've given that a lot of thought. I've even gone back and crunched the numbers on stocks that I've sold and re-bought all the way up.
It really depends on how well you hit the tops and bottoms.
And I know, you can get severely burned playing that game. But then again, profit is always good. money in the bank!
There are plenty of stocks on the move every day, and many of them are stocks you could want to go long on. Then I find myself unable to have as big of a position on any one stock if I have say 5 to 10 stocks I'm going to buy and hold.
Well said!
I don't get the big attitude towards people flipping. You can go long and flip too if you know how to read charts and understand the ebb and flow of a stock in an uptrend.
Sell a good portion when the stock tops out and let it retrace. Then with the profits, you can actually buy more shares when it bottoms out again.
Rinse and repeat!
Here we go! The volume is back again.
There it goes! .34 down. Strong run into the close. You can just feel it while watching Level 2.
Very thin now. About to break .34.
Here we go! A new high for today.
There has to be more. It just seems very odd that they don't PR anything positive.
I saw the ORIONS board listed on your signature and thought I'd have a look. NICE! Lot's of stocks I've seen on my scans lately.
I'll have to do some more browsing here.
Big surge of volume on that breakout!
It's going to break .33 one of these attempts. It's wound pretty tight and ready to spring now!
Making another charge at .33. Next resistance is at .35, then off to .41 area.
It keeps trying to break .33. Very close now. Just need a surge of volume!
Volume is coming back in again. 400K in the last 5 minutes. Not bad for lunch time!
That's right! Not all gaps get filled.
The handle of the cup has formed on the 5 minute intraday chart now. It needs to go up or down now.
Awesome information! Saved
Thanks!
You're right. You've finally convinced me. I jumped in at .295 this morning in pre-market for a small position.
It looks like it's time to jump off the fence and into BAA!
I wish it was that easy. But, it will be great if we do get a gap up!