Here is the reason why I bought this stock.This momentum trade did not follow thru. When it started to breakout of the current price base, I thought that it was already an indication of a blowout earnings...which it did but then they got greedy and announced secondary offering. WTF???
Trade Details
Bought @ $34.39 on 2/05/2007
Sold @ $31.50 on 2/08/2007 for a loss of $2.89 on every share I traded. A 8% loss on the trade.
3 comments:
Hi Pinoy,
Sorry to hear about the loss on RVBD, the mgmt are evil bile for pulling a stunt like that. If it's any consolation, I had an open position on MIKR when they suddenly decided to announce (bad) earnings - during the trading session, and without any prior warning !
Too bad. RVBD looked ready to rock and roll. Might need some time to base out and rebuild. But nice job on your day trades today.
Alex G.
@phileo, that's the risk we face everyday. But it helps to vent once in a while.
@Alex G., thanks man those daily day trade P/L creates additional buying power....but It has always been my belief/experience that serious money comes from riding big trends.
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