Your old man's advice is very good, and it's something a lot of people could really use. Trying to pick the absolute top or bottom is very dangerous and rarely possible. Shooting for the knee and shoulder is far safer. It gives most of the benefits and eliminates most of the risk, but greed and fear prevent people from using this strategy.
This being the case, 18.5 and 19c are terrible entry points. 18.5-19c is the knife's edge and we don't yet know which direction it's going to move in. Unless you're sitting there constantly ready to sell at a second's notice, it's a very dangerous position to take, and even if you do there's no guarantee you'll sell out before a cascade of stop losses triggering etc. Unless you think it's likely to skyrocket so quickly that you will miss out (which violates the 'knee and shoulder' rule anyway) it doesn't seem like a good time to be taking a position and it certainly violates your father's wise advice. If I buy back in, it's either going to be in the 20s or low to mid teens, either way it will be when the price is moving upwards at the knee not downwards or standing still on a knife's edge (the tip of the toe at best, and potentially much worse).
TNT Price at posting:
18.5¢ Sentiment: None Disclosure: Not Held
