Don't buy right now
It is still is down trend and minor fluctuation. If you look to enter and hope it gain back to ~$10ish, then at least confirm it is in upward trend. My opinioin, if it goes above $4, then the trend might have a chance to reverse.
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买跌不追涨 : Haven't you bought 4 now and buy later?
Valiant Wei SongOP : I'm still shorting for 1000 shares on IZM if you are curious.
买跌不追涨 Valiant Wei SongOP: Can you explain the reason for shorting?
Valiant Wei SongOP : IZM caught my eye when it came up on the top daily list. The price was at $12-15. So I started doing research on it.
a few things to begin with:
1. origin of the stock = China
2. market cap = under mid cap, this means volatility is high , price can easily be manipulated
2. any recent news = back then it only had celebrating anniversary news, so no
3. trading volume is high at unusual amount. This means big institution/s are involved.
Based on these research, 2 ways to go.
1. jump on the ride for gain, then leave before it start to drop big.
2. bet against it, short, at peak high (hope to) plan this before institution/s leave for profit.
3. short after institution/s leave, pick up after what was left.
买跌不追涨 Valiant Wei SongOP: So do you want to buy or sell now?
Valiant Wei SongOP : sell - too much risk and too little gain. Even the trend is still down.
buy - if you buy now, how soon do you think it will back to $10ish? If it takes month/s, then your risk is that you lock out your money for nothing + waste time
买跌不追涨 Valiant Wei SongOP: If it could go up to ten yuan, the current price would be more than three times that. Not to mention three months, even a year would be worth it. The point is that it is uncertain whether it can reach the top ten; this is the reason why it can't hold on.
Valiant Wei SongOP : Im glad you came up your own conclusion! I hope my comments helped. Wish all the best!
PzGren : As per your assessment, where will the stock bottom out?
Valiant Wei SongOP : Unfortunately, that's not something I would know. I'm not a prophet. :)
What you need to do is to keep watch it on a daily basis. When your indicators showing there is a positive moment, then you enter and ride along for the gain.