Garyst - I got on this train in July. I bought in when the pps was in the .014 range. I didn't sell when it hit .019, although I seriously thought about it. Since that time I've continued to buy in an attempt to leverage down a bit. Still, I'll need the price to hit above .01 for me to break even. I know there's potential for this to do much better than that.
Today's rapid-fire investing makes it hard to sustain any solid pps in pennyland. Good news like the Coke deal comes through, the pps climbs a bit on volume of more than 100 million shares, and day-traders take their profits; clearly, with as much buying as there was, there was a tremendous amount of selling. I can't find fault with day-trader motivations as we are all here to make a profit. But I sometimes wonder if us longs are missing the boat.
When day-trading is part of the equation, does a penny, even a good penny really have a chance to sustain a decent pps?
Thoughts?
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