I'm new to this and mostly paper trading at the moment (or swing-trading relatively small amounts). So... I'm shorting BAC. It was going down just like I thought it would, especially after the lawsuit news. Almost hit my target (a $0.40 drop) but then all of a sudden it starts creeping up! I've seen financial stocks spike up $0.15 and then drop lower, so I didn't panic at first. But it's been slowly rising for the last hour! WTF? Who can possibly be buying this crap with the lawsuit looming and the general direction of the market???
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Who the hell is buying BAC???
- Thread starter azzzy
- Start date
Quote from azzzy:
I'm new to this and mostly paper trading at the moment (or swing-trading relatively small amounts). So... I'm shorting BAC. It was going down just like I thought it would, especially after the lawsuit news. Almost hit my target (a $0.40 drop) but then all of a sudden it starts creeping up! I've seen financial stocks spike up $0.15 and then drop lower, so I didn't panic at first. But it's been slowly rising for the last hour! WTF? Who can possibly be buying this crap with the lawsuit looming and the general direction of the market???
Shorts!
Although BAC is insolvent, and should be allowed to fail. This may not happen.
So this means that although the stock should be worth zero, it is now just a $0 strike price call option on a government handout of free money.
This is how ridiculous things have become.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=151469
So this means that although the stock should be worth zero, it is now just a $0 strike price call option on a government handout of free money.
This is how ridiculous things have become.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=151469
decide how much heat you're willing to take and place a stop
Quote from DataCruncher:
decide how much heat you're willing to take and place a stop
If I place a trailing stop of $0.10 that means that if the stock goes to $5.50 and then $0.10 up it will take me out at $5.60. But if it goes to $5.50 then up a little (less than $0.10) and then down to say $5.45 if after that it goes up again it will take me out at $5.55, correct? (Sorry, I am very new to this - still learning).
tradersboredom
Guest
why do you bother papertrading
you sound like a scared granny on pensions.
get the f#ck out here.
my first trade was a real trade and made money on it. never paper trade before my first trade no papertrading for me baby
you sound like a scared granny on pensions.
get the f#ck out here.
my first trade was a real trade and made money on it. never paper trade before my first trade no papertrading for me baby
Quote from azzzy:
I'm new to this and mostly paper trading at the moment (or swing-trading relatively small amounts). So... I'm shorting BAC. It was going down just like I thought it would, especially after the lawsuit news. Almost hit my target (a $0.40 drop) but then all of a sudden it starts creeping up! I've seen financial stocks spike up $0.15 and then drop lower, so I didn't panic at first. But it's been slowly rising for the last hour! WTF? Who can possibly be buying this crap with the lawsuit looming and the general direction of the market???