As usual thank you for such a detailed reply. It's a tough call. I still believe they could grow in the future, but mgmt seems to stink up the joint. When I was buying Zacks had API as a #1 strong buy. I thought they were a reputable service so it confirmed what I liked about the company, at least in my mind. Now they have them at a #4 sell. Lesson learned.
One question about pond plays and pennies in general. I teach business classes in high school and I'm getting ready to go back to work for the year. All summer I've been able to watch level 2 and trade pennies. I have a line in a few pond plays right now and a couple other penny plays in general. My question: Since I won't be able to babysit these anymore should I set up some sells on these plays in advance? Of course I will see my stocks probably at least once a day and always after work, but I know sometimes they get the spike in price and then drop right back down same day. So I was wondering if I should set the sells good for 60 days at a certain % gain from my entry so I don't miss a possible one day pop or just let them ride and assume the pop will go on for more than a day?
Thanks for all your infinite wisdom.
Oh yeah SPAH, saw that one had some volume on Friday and then checked a 6 month chart, does that have pond play potential in your mind? I think I saw 3 volume spikes, only around 35-40 million, is that enough?
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