y'know
read a lot of posts over the last couple of days and it's clear there are a lot of newbies on this thread, and i just wanna point something out to the new and old posters who havent quite grasp this concept
One poster yesterday just posted COH...it's price $280 odd...and how much it had fallen in the day 10% odd...fair point
another then posted "why is COH on the day trade thread?" ....which i thought was a ridiculous thing to say, as any large cap with that much of a price movement should make everyone sit up and notice
Then
@highlandlad in his half time report said that he was trying to get a trade out of it
the point....
This is the day trade thread....IT IS NOT THE PENNY DREADFUL THREAD
large caps are easier and safer to trade than penny dreadfuls...you dont have to just trade 1 and 2 cent stocks with small market caps...especially now that we are entering reporting season
at least with large caps, you can exit pretty easily if the trade turns against you, and if it's a large cap like COH...well, you may just have to wait a bit longer to get your money back than if you bought ...say...BPH...which some will never see their old highs again
take NCK...yesterday, they produced a good report and the market rewarded them accordingly...had you read the report in pre-market..and then watched the first 10-15 minutes to see which way the market was reacting to the report, you could have made a nice safe profit...depending on your risk profile
Penny dreadfuls have their place, and they can make you a good return...IF YOU'RE LUCKY....or they can send you broke
large caps can also do the same, but i have found them to be much safer and easier to trade
reporting season will always bring large swings both ways on stocks, it's a great learning experience, but do it on paper first, until you think you know what you are doing
but always remember, everyone lies, and everyone is out for their own agenda
and when it comes to BUY/SELL depths....just think for a moment...when you are looking at a stock, you dont have your buy or sell in the queue do you?...neither does the 10's of thousands of other people who are looking at it...so why would you think the BUY/SELL depth has any relevance?
