I learned my lesson today about many, many things:
1--When sitting at the orthodontist waiting, don't buy any stocks. Stocks are to be purchased at home only in front of a minimum of 2 screens.
2--When you have a work meeting and stock is showing weakness, go ahead and sell then---especially when you shouldn't have bought it in the first place.
3--When Ross says don't buy amex stocks because they can get caught up in long halts, believe him.
Ticker: UUU
Float: 2.07m
News: No news but had good earnings last week, and it has been moving up over a few days
Price Bought: $8.50
Price Sold: $6.64
Loss: $186, 21.9%
Total Balance: $1,064.88
Got caught in a news pending halt for over an hour. I was just going in to sell it at $7.10/share when it halted. I kept trying to enter my sell order, and it wouldn't let me. What was the news? NO NEWS! The exchange asked for the company to comment on the recent volume and stock price rise. Do you know what the company said? We have no news. Grrrr....bad thing is that before I bought it Ross posted on the chat room that amex stocks have a history of being halted for no reason when they are moving up. I was doing all of this while waiting at the orthodontist. I took my laptop to run a work report while waiting, so I decided to go ahead and do a little day trading. UUU was the second leading gapper, has a very low float, and did have good earnings last week. I thought it was a winner...I was wrong. Never, ever trade while waiting around somewhere because then I had to drop off at school, drive home, and get on a work meeting. I didn't have time to stay on top of the price. Lessons learned!
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