Ok, attention all retail investors, this is the plan of most pro/daytraders for tomorrow (disclosure: I am a daytrader and this is exactly what my plan is)
1) Market buy at open for 1/3 position
2) Place stop on 1/3 at just below open price
3) If stock continues up market buy at 9.40 AM for second 1/3
4) Stop for 2/3 position moved up to buy point of second third
5) If stock continues up market buy at 9.50 AM for last 1/3
6) Stop for full position moved up to buy point of last third
7) Market order on screen to sell full position on any sign of pullback or 10.00 AM whichever comes first.
No matter what happens, my stops will prevent a loss, if the plan works, by 10.00 AM I will have made money and will be on the sidelines. I may buy back and do it again if the pullback is hard but not likely, these type of plays tend to have big pullbacks and small bounces that are hard to play.
I am not trying to give advice, just an insight to what the rest of the market will do with your beloved NOT tomorrow morning.
I hope for all of you your dreams come true, in the meantime I will continue to play these crappy stocks for what I can get.
As far as FNC goes, I am one of those fleeced retail investors from years ago, I have learned my lesson the hard way, and I cant help myself when I get a chance to give Peter Smith a ribbing, better than ranting at the wife and ending up in the dog house!
And for some peoples benefit:
IMHO, Information provided is not a solicitation to buy a security, Information provided is solely the writers jibberish, Do not invest or daytrade anything I talk about.
Did I cover all the bases???
