day trade madness

Wednesday, March 01, 2006

wow. when it goes off, it goes off.

yesterday, acting on a combination of a hunch and annoyance at how long I'd waited for it to recover, I took my BTA shares off the market. today - 20 minutes ago - they announced a sale of a further 1.75 million doses of their product to the US government. the shares finally went above what I paid for them, and were going up by a cent every few minutes for a few minutes there.

now I have my 5500 shares and a dilemma; do I put them back on and take my modest profit, or given how long I've held on to them - nearly bailed out at $1.40 - do I hold them until the morning, in the hope that the overnight news (plus various bird flu outbreaks, little as I want to profit from that) will trigger more buy orders?

as I can be at my pc all morning tomorrow, I'm inclined to wait. if it gets above my purchase price solidly, at least I can get my money back - I was truly worried for a while - and there's a good chance with such a volatile stock that it will bounce much higher. exciting, scary stuff. (should be off at something else, but I'm being a bit naughty this afternoon).

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