UPDATE: as subscribers to my 4 see the trade details…mostly due to the nasty overall market, nothing else…still made $2,800+ on this stock investing a verrrry small amount…that’s the benefit of solid risk/reward trading!know in real-time, I sold this position for a small loss,
I’ve written quite a bit about this stock, yesterday alone HERE and HERE and subscribers to my 4 are looooving my recent string of buys instead of short sells and there is one specific reason why I’m still long LQMT overnight (I had locked in profited of $3,000+ before rebuying the stock at 79 cents/share and 88 cents/share, see the trade screenshot)
Let’s see if you can guess what that reason is by looking at the PERFECT chart from yesterday:
This is minuscule joke of a longterm failure of a company that just signed a deal with Apple and EVERYONE from ZDNet to MSNBC is writing about the possibilities…odds favor LQMT screwing it up somehow, but perhaps AAPL’s magic can overcome LQMT’s incompetence…after all, the technology probly is revolutionary so perhaps all it takes is a bit of good management and some Steve Jobs…
Blah blah blah dreams aside, look at that chart…its a PERFECT intraday breakout above the morning spike highs followed by some nice consolidation and a bull flag, holding the former resistance/now support of 87 cents/share on strong volume into the market close…given that we know shares were available to short atat the end of the day, some shorts can be absolutely squeezed as they haven’t learned to respect nanocap penny stock deals with the single hottest company on this planet, no matter how mysterious it may be and strongggggg price action despite the massive runup so far.
The solid price action, especially the beautiful mid-day consolidation near the highs, told me everything I needed to know to go long overnight and now I have realized profits of $3,000+ on a puny $5,400 initial investment, and another $1,200 or so in unrealized profits and only subscribers to my 4 in the chatroom today will know how I trade this stock today.and those who are