Long VIOT @.8976 (oversold)Will hold until profitable and overbought.
My indicator and exit strategy are 26-0 on VIOT in the last 12 months (though this is the first time I've actually traded it). I generally don't trade <$1 stocks bc they're a hassle to trade bc my broker won't do market orders on stocks <$1, but I made an exception this time and got a limit order filled after hours at just above the regular session closing price - here's why I made an exception...
-The average gain on those 26 wins is 8.6% and the median is 7.7%.
-10 of the 26 wins have been double digit gainers.
-Using equal dollar trades each time, that would have been an approximately 222% gain over 12 months on a stock that is down 3% in those same 12 months.
-The longest a lot would have been held is for 2 months and most trades are 1-2 week trades during that time period.
A reminder: these are simply posts about my trading NOT investment advice. Just because I'm trading it doesn't mean it's a good idea for you to. Particularly because this stock is pretty illiquid, only trading about 100k shares a day. That in itself carries risk. So trade it or any of my ideas at your own risk.
