RSI is ONLY relevant and applicable if an asset is range bound (typcially large cap with high liquidity). It means absolutely NOTHING on a penny stock that is leading into an inflexion point with trials around the corner and an announcement imminent.
Trading pennys is rarely worth it when you weigh up the risk associated with liquidity, timing the market, CGT etc. (e.g. someone sold out at 10c anticipating/hoping it would pullback to 8c and now millions of shares have traded 12-13c - could have easily made another 30% by waiting 1 extra day).
If we are firm believers in the companies we invest in, we are far better off accumulating units whenever there is a pullback.
Please relax and enjoy the ride!
P.S. IBX is still my favourite stock on the market and I think it has the potential to be the APPL of the health/med sector.
50 CENTS HERE WE COME!!!, page-108
-
- There are more pages in this discussion • 149 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
