Short term traders are drawn like rats to cheese on high volume high volatility stocks.
They will buy in at different levels, and successful ones will get out while the initial hype is there (such as Ceffadog the other day); the unsuccessful ones will not have a trading strategy and play it by ear, only to find that they have to sell at a loss.
I've got no problem with short term traders - just that those doing it need to protect themselves and decide what they are going to do - have a stop loss and a target price or become investors or longer term traders.
I've been burnt before by not knowing whether I am fish or fowl and buying in as a trader, then sticking to it as it drops down. A nasty business I can assure you! Hopefully I've learnt a thing or two and can assuage my risk at least a little.
AKK at least will continue to get little kicks from the built in announcements - yes there'll be some dusters but if we end up with a modest flow of oil from the current drilling there will be a hell of a lot more interest and at least some of the other holes will also have some oil.
Not to mention as No Marlin said the 40' flare of gas! With flares like that, I keep hearing "Night fever, night fever..." in the back of my mind and have to stop myself from posing with a hand on my hip and finger pointing in the air.
;-)
People have to sell for all sorts of different reasons; I've considered it as I am now showing a decent profit (for once my timing was just right!), but I've also learnt to hang onto shares that are good to you.
AKK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
