I’m just not willing to get too exposed to stocks trading poorly these days. UpSnap has hit its stop loss today, and therefore if you are not a long term investor and only in it for a trade you should probably sell this one. Here is what I am looking at technically:
This is an hourly chart measuring back to when the stock started trading some real volume. Therefore, it is a very short term look, but short term is the only way you can look at this stock until there is more history.
If you measure back to when the first volume came in, the stock has violated the 61.8% retracement line. We are at the moment of truth. In the interest of protecting your principle, the stock shold be sold at the current level if you are not prepared to be longer term. It could turn around and head right back up, but sometimes discpline is required.
If it starts to behave better, we can always go back in.
Good idea, but I am bullish long term on this one. I haven’t bought yet, would you recommend a new price?
Editor: Not yet- It has to stabilize and behave better first. However, I am not throwing in the towel. Will advise when the chart looks better.
This stock is also down in sympathy with GOOG, down over 3% right now.
Editor: Perhaps, nevertheless it is trading very poorly.
12/05/05 – What a great day for UPSNAP !!. Peaked at high up $0.60 to rest at the close up $0.45. Is there any one particular reason for this sudden one day price surge ??
Editor: I knew this stock was going to be a crazy trader- there is a lot of interest, and very few shares publicly traded. I can’t explain the resurgence- perhaps short covering- lots more craziness to come with this one. Perhaps it will set up a pattern so we can get on the right side of it.
Aegis and UnSnap are linked together. I assume this is an error. I click on Aegis and I get UnSnap.
Editor: My apologies- the problem has been corrected.
A FEW DAYS AGO UPSNAP JUMPED $0.18 THEN GAVE SOME BACK TO WHERE WE ARE AS OF 1/13 AT $2.54. OTHERWISE IT HAS BEEN RATHER INACTIVE. NOT MUCH MOVEMENT / PRESS RELEASES / UPDATES CONCERNING UPSN. ANY NEW DELEVOPMENTS ? THANKS
Editor: I’m expecting it to start getting very active again in the next few weeks. Lots of stuff coming up on this one.
1/26/06 – UPSNAP – A little concerned at this point. UPSN has snapped 25% downard all of a sudden over the past 2 days. Are there any particular reasons for this ? I have not noticed any news releases or articles to explain it . Thanks.
Editor: I have absolutely no idea what happened yesterday. I’m getting too old for this s**t. My only comment- the stock did this once before, and bounced back. It appears to be firming up today. If and when it gets back to a reasonable level I might have to abandon this one. Something wacky going on.
What’s going on? No news and the stock is getting killed. HELP!!! I got in at 2.40 – should I buy more, sell or hold?
Editor: Last time it did this it came back nicely. Let it come back up a little more, then consider selling it. I have now learned from experience the only way to buy this stock is to wait for it to get clobbered, and then step in.
So when does the clobbering stop?
Editor: I don’t know. I wish you were out of it. Hence, the need for stop losses.