Re: 52 week highs
in response to
by
posted on
Feb 14, 2011 09:57PM
I know...Its frustrating to log into my Ameritrade account with this huge volitility since LGDI is my largest position.
I don't think it means anything at all since it is fairly low volume...although today was 3 times daily average. The true price will be set by a hundred million dollars or a billion of trading when (if?) new news comes out. Usually (in my opinion) high volitility clustered together like this indicated a change of direction in stock price movement (signifies either a top or bottom).
I just bought an additional few thousand and will trade short term while waiting. I figure I might as well (try to) make some change off this 10-15% daily volitility. Although I'm the world's worst worst short-term trader so we'll see how this goes. When in doubt (unless theres new information that fundamentally changes the long term company or industry narrative) I've found its best to do nothing. I still think the path of least resistance for this stock is up not down.