vlad.adrian
Short

GTAT - Starting a new downtrend

NASDAQ:GTAT   None
255 9 7
You can see how the price of GTAT has a floor and a ceiling, at 2.50$ and 17$, give or take. This time the stock broke over the resistance at 17$, and everybody was bullish . Well, it was a false breakout, yesterday's close confirmed it. I have been watching this stock for shorting for about 4 months, and surprise, yesterday when I looked at it it was down 15%. That rules shorting out of the question because the risk reward ratio is very unfavourable. I expect the stock to go down strongly in the coming weeks. I have no position and considering how the stock moved yesterday, I'll probably stay on the sidelines. There goes 4 months of waiting
06.10.2014 GTAT filed for bankruptcy!!!
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2use vlad.adrian
say what...
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Wait, someone is buying at these levels. It got support at around 15ish several times.
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Well if u wanna buy something like this, be my guest :))
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2use vlad.adrian
I owned it since 2 days ago....ouch...
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:))) Well as long as you record the trade and learn from it... I think theres no harm. That's my way of dealing with loses, and some hurt like hell
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2use vlad.adrian
Especially when CEO sells 25%...
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Im pretty sure that CEO waited to get the stock to those levels and then distribute it. If you havent read Reminescences of a stock operator you must. Jesse Livermore explains there how he made markets for certain ppl to distribute.
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2use vlad.adrian
daaang i really should read that. Heard several people talking about it.
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