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Friday, January 04, 2013 2:25:51 PM
Usually, the inital trades are all over the place, but soon stabilizes, often between 10 and 70% of where it last traded.
If there remain a lot of culties who are still believing in the stock, it could trade higher for a few hours, days even.
Typically, volatility and price will start a slow decline to eventual oblivion.
Suggest you watch the trade history for at least an hour after the stock opens before deciding where to place an offer. Or just put in a higher offer right off. If it doesn't fill, you can always drop your offer.
I really think you'll be able to exit at 20-60% of where this last traded.
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