Wednesday, April 25, 2018

Venture Corp - Heavy Selling Past 4 Days

Venture was hit by bad news lately and the stock started to take a down fall. At the top there was 3/4 top and profit taking before the sell down happened the past 4 days. I remembered I got many questions about buying Venture and some asked if they should take profits and my answer was don't buy and look to lock in profits. Now, from the peak to this price, it's almost $7 drop in 4-5 days which is quite steep for a blue chip. Venture just reported some good earnings report.

The unfortunate thing is this stock cannot be shorted using CFD or I would have shorted it near peak. It's also quite illiquid at times and hence I can only see it drop without shorting it. I am particularly pleased when my student read my blog this morning and look for an entry to go long instead in the 5 minute chart. He made $1222 as the stock rebounded from the bottom. Congrats on your win once again!

Ronald K - Market Psychologist - A Stock Market Opportunist