Balls or No Balls - that is the question. There are three ways to play big mouth stocks. First - hit the open with your orders and hang on. Second - hit the open with a part of your order then quickly determine if you hit it again quickly if it declines or continue to short more as it goes higher. Third - hoping it does not decline right way, wait for the stock to lose its upward momentum, then short the crap out of it. -
You must determine if this is a pump, pop and dump stock using method one or two or a pump, bigger pop and dump stock(method three is better). I find it very hard to wait for a roll over when most of these stocks do not roll over.
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I think the best method most of the time is the second but once in a while you will get you head handed to you. The trades above are one I should have and planned to short a little on the open and continue to short on the first pop hoping my head is not handed to me.
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So did I trade my plan - I had no guts - no balls. I hit the open but did not add and then covered once I got close to break even. If I traded the plan (hard to do), I would have made good money (+$1000) instead losing $125.
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No balls - no profits. I got to find my balls some where. I think they are somewhere on the floor.
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The numbers:
The stocks: gross -116 net -122 shares 1200
The stock futures: none
Forex: none
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