Wednesday, March 28, 2007 1:50:34 PM
You're right about how the threat of bankruptcy to a stock can also bring opportunity. I recently made some money daytrading New Century during it's meteor-like crash. It had a ferocious bounce back--but you must get out with the cash when you can, because they can quckly resume the slide to oblivion. I also remember buying American Airlines for a couple bucks when it was being pressured with bankruptcy 4 or 5 years ago. I bought low, but got out of that kitchen when the fear level got too hot. Then it almost immediately flew back to $10.
That's all part of the fun--risk is exciting to us gamblers, ha ha.
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