CRDC was just frustrating today. When the BID falls to 6.33 but you can't exit becuase the ASK is still 6.99 you start to realize just how manipulated some of these stocks are. I don't know who is behind it, and I could list all sorts of conspiracy theorys about how this pump happened, but I probably still would not nail just how low manipulators are willing to go. If you're not convinced, read TIMS post on a real life stock manipulator
I noticed that CRDC is very sinusoidal relative to 60 day MA so i wasn't THAT worried when it tried to break 7.10. I told dhous i'd cover in the crash. Greed got the best of me. Only a 110$ gain and i've been holding this stock for over 5 days? No way, I wanted more. Thats why I held, even when my trade was green, and thats why i'm stuck here at the 7.07 close!
I'm making a promise now, because this stock is no longer worth my time or capital. The net dip, ,no matter whether I'm green or red, and i'm out. I could have played TMA, ABK, or RDN if I just had some capital today.
I'm really not dissapointed in myself, becuase my reserach tells me itshould be going down. But i've learned from this experience that illiquid stocks are not worth the huge bid/ask spread, and multi-cent lunges in price they take. Further, like i said before, something is up with this stock. Just look at the volume spikes. The daily shares traded is not much at all, so when the volume spikes, the market maker is the one moving in my opinion. One last reason I think this stock is up to no good is becuase the bid/asks are always teasing investors. Often, they don't surround the LAST. Imo, market makers are just testing the people in the trade to cave in and surrender their money in the extreme squeezes and sell-offs that keep happening- thus the sinusoidal leading line around the lagging line.
But honestly, no one should trust sell-offs and booms in illiquid stocks! This thing is definitely long run RED. I just don't have that much time.
