Interesting to find a thread like this on a car forum.
I do a bit of extending Scalping on highly volatile stocks that I find that trade primarily on news/emotions.
Call it DayTrading. it's not my day job, just gets in the way of it, let's say.
Got totaly screwed on a Chinese RTO that I had an excellent month run with. Took a big position on the Friday a.m. Japanese Tsunami dip and didn't take my profits fast enough. IT got HALTED at about 10:30 a.m. that morning.
Anyway... could be one to watch in the future. I re-opened on the Grey Sheets yesterday at $3.50 ( the halt was at $11.86 ).
I sold at $3.85 and doubled-up in the low $2's.
There were around 11,000,000 confirmed short positions (including Puts) on a 7,000,000 Float... and most recon that only about 5,000,000 covered yesterday. Most All the panic selling of Retail LONGS took place yesterday.. or at least should have. The wild card are the Institutional holdings and when they decide to dump. But.. should be around 6M Shares that need to be bought to cover those short positions. even at $2.16.. when that starts to happen could make for a $1.50 artificial jump.
It's a totally crap, could be a total scam, Chinese company. so beware. and Stop losses are essential ( can't get halted twice... can it! )
iHub is a decent forum for up to the minute DD.. and in many cases FUD.
http://investorshub.advfn.com/boards/bo ... d_id=16418
I've got quite a bit of money to make back and this damn stock, Hopefully all the pain is in the past.... and my double-up (WITH A STOP LOSS set!) proves to be a good move.
*NOPE> STOP Loss initiated. Will look at this again in the future when Company actually does something to defend it's stock pRICE!