why do you bother? Sour grapes? If you traded this stock successfully the last 2 years you would have made a very handsome profit. I’ll give u a little swing trader 101 lesson. Research and find around twenty stocks like EUR and just track them. They are what I like to refer to as hot and cold stocks. But there are levels of momentum. You want to go long as the stock is warming up, sell into news and go short if the company disappoints or when news flow has dried up and nothing is expected for a while. Sound familiar? EUR is a swing traders dream!
Ill give you a prime example that I’m sure you are fully aware of … last year leading up to the supposed release of the DFS. Any monkey worth his salt would know (if you are following this stock) that the price is going to rise leading up to the so called DFS announcement … I bought in at 10c, 11c and 12.5c, 3 x 100,000 CFDs …. that’s a contract for difference which is a leveraged derivative. Needless to say with about 6k in funds I’m able to play with around $30k in stock. Anyway I think with the share price at 16c the DFS was a couple of days late, which knowing the company and its management well was a bad sign for me, so I sold 1x100,000 contract and took profit, lowering my exposure.
Sure enough the bad news came, which is an opportunity rather than a missed opportunity, I quickly sold my remaining CFDs at 14.5c for a total profit of $11.5k in a little over a month and went short at 14c with 2x 100,000. A little luck if you could call it that (terrible for the people of Ukraine though) happened and I rode the share down all the way to 6c for a profit of $16k in a little over 2 months.
Knowing this stock intimately I couldn’t see it falling anymore so I reversed my position. Long 2x 100,000 at 6.1c …. Now the stock fell from there to as low as 5c …. was I worried, of course not … very hard to pick the absolute bottom … if it had gone to 4.5c I would have averaged down another 100,000 but it didn’t. At 5c it rose …. bit of good luck with the non binding MOU with BMW and the sizzle merger, sold into the news at 11.5 for a total profit of $9.8k
Stock went up to 12c then dropped down to 9 where I bought back in 1x100,000 then another 1x100,000 at 10c. I will now look forward to an upward swing the next two weeks and probably buy another 100,000 this coming week. Then sell 100,000 just before the news breaks (hopefully), 100,000 into the news if positive. Then decide what to do with the other 100,000 dependant on how the market reacts.
Now mountainbike Im not trying to toot my own horn here, but what I am trying to show is that for someone who wastes so much time and effort downramping this stock and spending sooooo much time intimately knowing it, it seems pretty moronic not to make money off it because it’s so bloody predictable!
Instead you come on here trying to spread fear with innuendo and at best borderline assumptions instead of trying to contribute by offering a decent trading strategy for the stock. See the difference here is whilst you have poured sweat and tears into sour grapes, I’ve made champagne from those same grapes and guess what it tastes fantastic.
So my advise get over it and trade the stock as it deserves to be traded and make some money instead of wasting your time trying to convince everyone what a dog company EUR seems to be in your opinion.
Me, I’ll just keep on banking my EUR profits and using my time productively.
EUR Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
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