Emily-
I believe everyone has to make their own investment decisions and I never get upset when someone does.....but I have to ask some questions?
1. How long have you been trading?
2. Do you not have access to look at Level 2 during the day or do not have access to your trading account when the market is open?
If you made a decision to get out and go after another stock I wish you the best but do you realize putting 300,000 on the offer only hurts your chances of getting out.
I've explained in my posts that the markets are emotional and irrational. Someone sees a 300,000 share offer and the perception is things are bad. That's the opposite of what you want to convey if you are selling. You want people to feel good about the stock so they will pay your price and buy your shares.
Why not put a block up of 50,000? If it is because of ticket charges and a GTC sell only gets you 1 ticket charge it sort of is penny-wise dollar stupid mentality.
Huge blocks on offers kill rallies or turn people off. It goes against what you are trying to achieve- selling your stock at the highest price you can get.
I'm not being critical at all and again I want to express it is your money and your stock and you have every right to sell it as you see fit, but I wanted you to see that if your goal is
1) to sell it at the highest price that putting 300,000 on offer does not accomplish that.
2) to get out quick so you can go into another play you like- 300,000 in one block will not accomplish that with the average volume you were seeing when you executed that trade. It's almost 3 times the daily volume. What makes you think someone will buy that given the current market conditions.
Just something to think about. I wish you the best in your trading
