Trying to profit on the falling knives (oversold stocks & huge pullbacks).
Thursday, December 6, 2012
Trade of the day, LFVN!!!
So it seemed as I was the only person trading LFVN today. Not even StockTwits had it available in their search list. I decided to try and catch this bounce when I saw it heading back to support levels at around 1.75 from back in February. Went long 2000 shares at 1.85 when I saw volume spike up after it started trending back upwards on the 5-minute bar chart. I was going to get back in LFVN today even if it broke my 1.79 support, but lucky it didn't and I ended up selling it at 2.09 for a .24 point gain. If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9.