I researched a few of my watch list stocks and realized that while the chart and company itself fit the profile, the volume did not. Volume is a must when shorting stocks because if there are not any stocks available, you can be forced to watch your stock go up and up and your bank go down and down. You want at least 100,000 avg daily volume to be safe. UBET so far is my favorite but watch it due to the earnings. I will be looking for a few more stocks to watch for the week and will let you know if I come across any.
May 11, 2008 at 11:09 pm
Hey,
On ubet, are you thinking it’s going to go back under $1?
May 11, 2008 at 11:14 pm
I think one of two things will happen. It will either drop down for a day and continue upwards or it will drop down to probably $.95 to $1. When the spike originally started towards the end it had a drop off but then earnings and a conference call made the stock shoot up. So my best guess, without any other surprises, would be that it will come back down for at least .10-.20 gain if not more. For me, that is plenty since I am looking for small gains to build my account. This eliminates a lot of risk that could easily bankrupt me.