While traders keep doing this (not just you by the way), the players will keep selling it down.
They are looking for a period when such activity ceases, a time (a price level), when the register is far more heavily weighted to the sit and hold types.
Whilst the points hopping continues, they will keep pushing it down.
This is what I meant the other day by knowing when to trade a stock ans when not to.
As it stands, the stock will not be allowed to move until the players feel it has done enough...that the traders are no longer attracted to it...and that those already in the stock are not likely to also trade for point value everytime the stock rallies a few points.
If not for the points hoppers, we would be well above 40c...just think how many more profits you would be sitting if that were the case compared to the profits gained from points hopping.
The players working this now do not care about price, just profile of the register...as such will push it to where ever it needs to go to flush the traders..up or down, does not matter. Further, the individual order size of the traders does not matter...all they care about is the shear number of traders and total volumes being churned by the temporary block.
As I often say, trading for points can result in less profits not more.
I am not having a go at you by the way...so feel free to trade away as you have been, as often as you want...I just wanted you to understand the process of market behaviour and likely impact such behavior can have.
Just one small trade, as you say, means nothing in the big picture...but the point is, there are more than just one of you...
Many more!
Cheers!
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
