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Crox
- Thread starter lloyd111
- Start date
Everybody hates that stock to death but I got long on it a very small bite (1100 shares) at $10.14 somewhere over a month ago. I have faith in the stock's recovery so I've held it even as it dipped into the $9s. The recent gap up is being faded hard and will probably end up bringing the stock back to $10.00 levels, but in the intermediate term I think the stock is good to go to $15 or $20. YMMV as always and only invest money that you're comfortable losing.
Quote from millionaire7:
what is 10 dollar rule.
10 and 100 dollar rule. Same concept different values.
This generally can be used for both long and short.
The first time a stock or other trading instruments come down and touches 10, it will try and touch nine, then have a nice bounce. (support)
Something hits 100 it generally pulls back to 90 before touching it again. Look at oil for example. (resistance)
Maybe I can explain this better later on if need be, I am in a rush. Saturday Softball. Lol
I hope you unloaded in the 11 range and took your profits and ran.
I think that it will fall back to 10 in the short term too. I bought a put on it the morning of 5/08 when it gapped up because it appeared weak. It will probably drift downwards for a few days and then come crashing down to 10, where I'll exit my trade. I don't know what to expect after that.
Quote from millionaire7:
what is 10 dollar rule.
Humans like to kiss anything round.
In numbers, anything that ends with zero, which is reflected in stock because they reflect humans and their inside attachment to anything round or has zeros at the end.
The next category of stock numbers are those that end of fives (if the number has two digits).
You can see this in currency trading. Round numbers are always kissed, day in and day out.
Thanks
Quote from nyxtrader:
10 and 100 dollar rule. Same concept different values.
This generally can be used for both long and short.
The first time a stock or other trading instruments come down and touches 10, it will try and touch nine, then have a nice bounce. (support)
Something hits 100 it generally pulls back to 90 before touching it again. Look at oil for example. (resistance)
Maybe I can explain this better later on if need be, I am in a rush. Saturday Softball. Lol