picking bottoms

This week for me was a disappointing one regarding picking bottoms.

I entered SWL at 109 seeing a bargain on previous months prices and set my stop loss at 99 cents thinking this is safe. Having a great success with QAN in previous weeks( Ironically 97 cent bottom and selling at 113 (shoulda seen it coming i.e the 97 you'll see in a minute)

Because I'm a stingy bastard and don't want to pay for market depth or anything fancy extra for another 9.95$ per month I thought I was so smart hitting refresh for about 90 minutes to find a safe stop loss for this stock.

As the asking price drifted toward 99 cents I moved my stop loss to 97 cents.

I went to take a nap. Glancing up hitting refresh on my samsung galaxy to see how the position was I notice asking price was drifting to 98 cents and I was very close to becoming stopped out. If I had faster connection+ spent an extra 10 Per Month on market depth I would of moved stop to 95 and had a great entry point.

The trade happened. I was stopped out. Losing about 400 bucks from the 3100 shares I'd purchased. Immediately jumped after it had hit my stop back to 104 or something.. It was like someone was watching my stops. And also(conspiracy theory) the bots starting going rampant on tues wed thurs and a little today on this stock. Now it looks to travel back to the average volume of 170000 for the day and be relatively quiet till the next news.

So this is the market. You pick some you don't. This in no way has any of the similarities of QAN but I think if you want to go long in this market you really have to pick the red days to enter stocks. And I mean really red days. 1850 for anz etc.

Thanks for listening. I'm off to have my poop on toast and practice catching falling knives.

Goodbye for now SWL.