I'm setting up accounts at IB and eTrade mainly for the purpose of shorting stocks under $5. I encourage everyone to do the same. Besides being able to short lower price stocks, those with the pattern day trader rule still 'bugging' you out of plays, w/ 3 accounts you'll have 9 day trades per week. Trade w/ precision on those 9 or less trades or enjoy some longer term patterns to work with like AVXL....which I think could see a few solid days of buying w/ maybe a down day or 2 in between.
Holding AVXL for a break of .80 or more. Mental stop @ .59 and will raise it as the stock rises.
Thank you Erik. What about the big dogs that might use AF or the Fing squad at Fierce Biotech, or that basher/dodger that posts from China... would they get involved with shorting such a small cap in a big way?
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