Sunday, November 4, 2012

NG.TO

I fucking hate NovaGold. There is something about the way this stock trades that sucks. Ya ya ya, I know, you shouldn't blame the stock. But seriously, all stocks have their personalities and there is just something about NG that sucks, I don't know what it is. Anyways, on tuesday, it had a huge run down and I was gonna get stopped out but I cancelled my stop (no I don't  usually do this anymore) but the markets were thin, the US markets were closed because of Huricane Sandy and I knew stops were gonna get taken out so I watched it. And by late morning NG reversed and ended up, see big reversal candle with the 4.54 low. Yep, confirmed someone(s) running stops and taking advantage of the thin trading. Canadian stocks and especially gold stocks are prone to this. So what happens, no fucking follow through, nothing, more drift and bullshit. Anyways, I took a $350 / 7% loss on this POS. Next time I consider trading Novagold, make me go sit in the corner, slap me on the head and don't late me come back til I get that thought out of my head. And yes, this is probably the 4th or 5th time I've traded this POS shit and its the same every time.

2 comments:

  1. LOL!

    I've never touched this one, average daily volume is lower than I like.

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