Yeah sure it is. I short sold MCC friday morning 1000 at open at 956 and bought them back 965 to close my pos. lost out $90 I knew they were undervalued but was going with the market. I went long on 1000 more at $9.80. turned out ok so far.Wish i had of just went long a 9.56 !
Friday was a good day, i wish it was like that all the time!!!
People selling at low prices is necessary. if i buy a stock at $11 based on volatility and the % of my capital i would risk, i will get out for example at 10.20 to preserve capital - under valued or not. Iv'e seen to many people put to much faith in stocks bouncing back only to see them loose massive amounts of capital eg 50 or 60% of their bank account (including myself). Thats 120% you need to make to break even..... think about that.
MCC Price at posting:
$10.65 Sentiment: ST Buy Disclosure: Held
