Quick answer is it held but violated the level slightly. It would be within my wiggle room but and big red days like this no reason to give it too much. It actually went green to finish the day. That was just in the last ten minutes before the close.
The market will likely look to grab any positive news to recover some. But using a wait and see approach. Keep disciplined, know where you are wrong, and follow your plan.
Have a good weekend !
tsla daily daily dz 647 please advise
$TSLA -- sure, there's something there (I broke it down for greater precision) -- while the DZ is apparently still a long way down, TSLA's initial move out of it was so parabolic & the market sell-off is so violent, that it could be there sooner than one would reasonably expect if there's another wave down. If that occurs will look at it again. Often times price might turn ay the tail that's now not included, as opposed to the clear DZ. At that point it would make sense to look at a lower TF inside the tail for a level.
We're now back to the VIX level from 2 Christmases ago. This is the time to be doing one of two out of three things: (1) not trading (2) trading (3) gambling. If you're in positions & making moves, make an honest assessment & know whether you're doing (2) or (3).
$DBX gaped up on Friday after reporting earnings. But It gaped right into an area of consolidation. The first day it fell about a $1. Then with Mondays sell off went to almost $20. A $3 move in DBX is quite big.
This is a simple way to play earnings. Don't hold through the announcement but play the results.
Most people these days want to earn money fast. This is probably one of the major reasons that so many people are also getting scammed and often lose a lot of money. Sad to say, that the “easy money” mentality has reached the stock market and has left a lot of people investing unwisely in penny stocks that may often be too risky to begin with. Let us learn how this variety of stocks can actually be problematic to investors.
What Are Penny Stocks?
Penny stocks are stocks that are sold for less than a dollar or, in some cases, less than five dollars for each share. Most of these stocks only have a short operating history and only have a few million dollars in net tangible assets. Typically, these have low market caps, minimal liquidity and are often traded on over-the-counter exchanges.
Why Are Penny Stocks Risky?
What you should know about these stocks is that trading them may be much riskier as compared to regular stocks. After all, with such issues as these stocks having no adequate backgrounds, offer very limited information about the companies, and may often pose huge threats for scams.
Lack of Background
The chances are, if companies are willing to trade stocks in such small amounts, they most probably have very little business history or may have a very negative one. These companies are either just starting out in the business or they may have experienced bankruptcy, thus they resort to selling their stocks at such low prices.
Because there isn’t a lot of information available on penny stock companies, there is a very huge possibility that you might be making a bad investment. And of course, you may end up losing more money than you plan on gaining.
For most companies that offer penny stocks, not a lot of information is really available for investors to view online or elsewhere. After all, most exchanges in this market operate on the Over The Counter Bulletin Board (OTCBB), which do not really require thorough reports for public posting.
Without such valuable information, it would be very difficult on the investor’s part to make the right and objective trade decisions, and this could often lead to unwise guessing.
Bribes And Scams
It isn’t uncommon for such stocks to be promoted by people who have been paid to do just that. Perhaps, you have received spam emails that may sound too good to be true, which may encourage you to invest in a particular penny stock. Take in mind those successful companies these days mostly did not start out through penny stocks.
The usual scenario happening that enables bribes and scams is that a company may buy some stock and then spread emails to tell people that a certain stock is doing well in the market. A lot of readers would then respond to this by investing in stocks, causing the price to dramatically shoot up due to supply and demand. After this, the scammer may sell his or her share for a huge amount before the price dramatically goes down again leaving many investors to lose a lot of money.
In conclusion, although there is a lot of potential for growth in very minute sized stocks, there are greater risks involved. And often times, if you are not well acquainted with the business background as well as with the necessary information on how your investment is doing, there is a huge chance for you to get scammed.
And so, if you are new to the whole stock exchange market, make sure that you decide wisely on which type of stocks to invest and do not go after what may seem easy to get you rich. Keep mind that, although penny stocks may be alluring, they may involve huge risks on your part.