Crytonaylor
Crytonaylor Apr 19, 11:05 AM

Hi, but if you look at the trade volume , the last time it did this it went from 2.50 -3.50

wannabestocktrader
wannabestocktrader Apr 19, 11:18 AM

3/16 was earnings, just because yesterday had similar volume, doesn't mean it will do the same. 4/17 was FDA approval, which is good, but the chart is pretty bad, lots of bag holders that can dump anytime. Look at $RIGL for example, as it just had FDA approval, spiked huge pre-market then sold off hard, then followed by an offering the next day. Tomorrow is Friday and it may run, but this is by no means a high % play since it's a biotech with news everyone was waiting for.

wannabestocktrader
1
wannabestocktrader Apr 19, 11:21 AM

If not for tomorrow being Friday, I'd actually be looking to go short on this sometime soon after seeing what it does, as the prospects of it running a lot higher are pretty low. It has a decent float and short interest, and only like 75k shares in IB atm, but there's always more money to be made on the short side on plays like this, imo.

Molonelabe
Molonelabe Apr 19, 1:42 PM

Hello, the volume (753,089k) is very week to have a breakout, there is a lot of overhead resistance on old news from two days a got the price might already be locked in. There is a high short interest on this but the float is not low enough to really have it pushed up. Sorry, I don't see it doing much once it reached the 3.75-3.80 if it can get that high on this low of volume.

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GT500
GT500 Mar 30, 12:22 PM

@Kody I understand that is really hard to be happy with only 3% gain on 300$ position, but this is the way to consistency. You first have to find patteren that works cosistantly for you. Because when you will have big account 3% gain will still be good "break even trade" and 10% gain will great trade. All I am trying to say don't focus to make 10% every time, better less gain than a loss. At least try it for 2 week and see if it is any difference in final result.

wannabestocktrader
wannabestocktrader Mar 30, 12:38 PM

Good work, and congrats on making the come back! Thanks for sharing, hope you keep at it to get profitable.

GT500
GT500 Mar 30, 12:44 PM

@wannabestocktrader Ty. This post was actually from end of Dec, I just edit some words today when I read it again, because I had bad month in March (-1,5K$). Trying to learn to trade NASDAQ but it is very hard for me. First red month after 5 green, but manage to get better in last 2 weeks, we will see what will I do in April. Will update soon.

Phierce126
1
Phierce126 Mar 30, 12:45 PM

love the transparent insight. I completely understand what you mean by cut out the noise in the chatroom. The challenge chatroom definitely cuts a lot of the bs

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