What does it mean when a company goes down like this? Sorry new to investing stocks. Does it mean the company is going down? Thanks
I haven't looked at their earnings report but this drop did come a day after they were released if I'm not mistaken. So investors must have seen something they didn't like.
Right after you posted this it went up like 10%. So you held on to the trade the whole time? Isn't that a no-no in the world of day trading?
It was a planned swing trade from the beginning. It's too hard to get tops and lows. I like to give myself a little room for the trade to work and it never hit my area to take a loss.
I was curious if you got blown out of it. Glad it worked out. That was a pretty tough hold. Did you average up in the trade?
I did not average up as me and oil don't play very nicely. So I try not to average down or up with it depending on my position. It was a tough hold and I was extremely close to getting stopped out.
Countries like Saudi Arabia (because of royalty/welfare obligations) and China are selling reserve assets to support their commitments. Notice that the "best" performing stocks are losing the most even with positive earnings reports - underlying financial analysis of companies will give you the incorrect answer in this market environment.
For the record, I see few good buying opportunities anywhere given the risks. If you want to invest in something, I would short banks and other financial institutions.
So...I can't be the only one on here who has lost a significant amount of money in stocks recently right? How much are you guys down?
