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Alias Born | 01/26/2013 |
Wednesday, May 29, 2013 8:43:32 PM
1) If it gaps down, sell any position you have at open and watch level 2 until the bid comes back up 10-15% at which time you can buy. Put on a stop loss close to your purchase price, and let it sell if the bounce is fake (ie, don't worry if your stop is trigued and you lose a little). If the bounce holds, keep buying as the bid goes up and at the same time, keep rolling your stop loss forward. It should bounce hard, and then will dip hard, so sell as soon has the price goes down on two consecutive drops.
2) If we gap up, hold and see what happens. If it starts to fall, sell immediately and switch to the above strategy.
3) If it gaps and runs, don't sell, begin a trailing stop as it goes up and also buy on every .10 increase. As in number 1, as soon as two consecutive bids fall, sell all.
If the stock is not moving up and down fast in a set pattern, it will be too hard to trade and should be left alone for the day.
The above is how I would trade this, and some other veteran traders on the board may disagree (and simpletons on the board will insult my strategy - watch for the replies, but remember that 90% of ihubers likely lose money). I posted my trades live over the past 3 days, and you could go back and confirm them yourself if you want (ie, I make money, or I lose very little - that is how I trade).
Good luck and hopes this helps. Remember, you can't trust anyone on ihub and just take peoples advice, consider what you like about it and what you don't, and trade based on your own gut and risk tolerance.
Tomorrow should be volatile and allow for money to be made. We should close tomorrow 25-35% up or down in my opinion - I don't know which, and will just trade the trend.
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