Hmm, scottrade has cctyq listed at $1.02, yahoo finance has it at $0.10. Hmm…
Limit order it is. We’ll see what happens…
fiddle sticks.
Score. I just bought 1500 shares for like $145 bucks… Now for the bounce?
So is it me, or has the market just plain took a dump even more than it was before Obama was elected in. Is it that investors and business have no faith in the direction that we may be heading?
Think GM will have a long term value? Or should I count my losses?
:picard:
the country was headed in the shit long before Obama was elected.
Aaand I took my ball and went home. $0.092 -> $0.135. Made $50 on $150 in a couple of hours.
FGGTS!
so anyone else take my advice and bounce the cat on CCTYQ? In at 10 cents here for 10,000 shares. Now at 23.5. I’ll check out at 30. Or else it will get to 29 and then fall all the way back down.
Well its all of nothing from here. Moved big into long real estate, oil, and financials!!! Joe get ready for me to move into your basement.
Fuck. I didnt but as I have said almost all of them bounce you just cant chase it ad you have to sell it when its still good. Good move.
Generally if you buy first thing in the morning the first day they get listed as a Q stock, you’ll make some money.
ballsy move moving all in now. Should pay off long term but might be ugly for awhile longer. I’m still getting killed on the rest of my long stuff but my shorts on UYG and MS are cutting my losses to about 10% of what they should be.
How are you guys determining your stops or take-profit points? Or do you guys all just go off the cuff?
off the cuff. It’s a unique combination of how I feel that day, if i got laid the night before, how much money i blew this weekend on stupid shit, how the market looks in general, and the particular stock.
LOL im still about 50% cash those are just things i took positions in right now. Im prepared to avg down if necessary.
I personally take a sec and asses the market and determine what I think it is doing up, down, gap, range, etc and take whatever % I think the next direction will be and I try to enter the next turn about 3-5% before the turn and sell at about 75% of what I expect out of the turn at which I will be taking up positions in the other direction at that point. Well thats how I play a range like right now. BUT this market is wacky so it is some off the cuff.
I’m just starting to dabble with this stuff. So far I’ve found that if I feel like I should probably pull out, but maybe wait a little longer to make just a couple more bucks, the stock’s about to drop like a rock. :lol:
for what its worth i think UYG is a great value right now, trading lower than it’s ever been throughout this crisis, in the high 6’s even though the financials are a good deal above their lowest point. Plus it’s not like the whole sector is going to stay this low forever.
I want to play GS as well, but i’ll wait until an upswing gets rolling for a bit and I see an upward pattern. It’s hemmorhaging like 10% a day even though the company’s fundamentals are rock solid.
For the hell of it I did a little bit of technical analysis on CC’s chart. I know nothing and don’t claim to know anything in this field, but I’m trying. Anyways, this is what I’ve found:
If you look at the daily, there has been significant support at the .25c price. This is a huge area of support/resistance on this chart, probably the greatest area. Price is always finding support at it, and has become a price pivot zone, switching from being a support for price to a resistance.
Next there was a huge gap, which in the forex world would almost always be covered, and when paired with good price action is a surefire bet. I don’t know if it applies in this market, but most technical analysis is prevalent anywhere, so I suspect it does. So the gap got filled recently when the downward trend retraced up. I couldn’t plot any fibanacci lines, but if I could, I bet there would be a significant retrace around .25c
So will the stock continue up to 30 or higher?
Next I looked at the 15 min. We had a few very significant bullish bars that brought price up to around the .25c support/resistance line. The next bar was a “pin bar.” Price tried to breakthrough the S/R but the bears fought back and it closed lower than it’s open. The next few bars show indecision in the market as the open and the close are around the same price. Eventually price retested the .25 and found resistance. Its in the making of forming a double top. Unless the next bar is very bullish, I can’t imagine price finding .30 and holding there.
Of course, fundamental analysis is a huge part of trading stocks, and we all know about CC… so I guess you could make your own conclusions.
edit: I forgot to comment that when most gaps get filled, the trend will continue on it’s original course. The fill is often a small retrace before continuing
UYG now? UYG is a bet on recovery isn’t it?
What ETF tracks the S&P?