Gain/Loss: -$407
Today is a perfect reminder for why I started daytrading to begin with. I wake up to find my only position, SQNM, has been hit by some dipshit analyst. Carris & Company comes out with a ridiculous low price target, and weak hands get shaken out. Seems like every time this stock starts to pick up some momentum, some dumbass has to open their mouth and bring it down. The very same day, Lazard raises their price target by to 50% above the current price. This goes to show that Analysts are pretty much worthless. I prefer to look at where the smart money is going, and from what I see, Goldman picked up 750,000 share about a week ago. Nothing has changed fundamentally in that period of time. Insiders bought when the stock dipped under $20 a few weeks ago. Nothing has fundamentally changed. And now when some hack makes a guess at a price target, the stock goes down. Just dumb. The good news is, the volume was small, and seemed more like manipulation than anything else. These are the "dips" everybody tells people to buy on. I picked up some more shares today, and will do the same tomorrow if we get another dip. Remember, we have a catalyst coming up in a month, and any promising news on a stock like this will send it soaring. At the very least, there may be a run up before the news imo. We'll see.
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