The VoSI VooDoo Report
Offbeat Ideas and Commentary from the Depths of Gil's Trading Notes
If you like to walk on the wild side, perhaps even the very, very wild side, one stock coming through my Bitcoin mania screens today is Longfin (LFIN), which is showing tight voodoo action along the 10-dma. Volume dried up to -93.7% below-average, which is about as dry as I've ever seen volume for any stock. I've heard that some brokerages won't even let their clients buy this thing since the volatility is off the charts. As many of you probably already know, LFIN came public at $5 exactly 14 trading days ago and rocketed to a high of 142.82 in five days after coming public. I'm thinking maybe a 100-500 share position is all I'd mess with here with the idea of keeping things tight...of course, I have yet to see if my broker will even let me dabble in this psycho-stock. Maybe some brokers have a special on this: a free Xanax prescription with each 100 shares purchased. An interesting oddity, and if it is too risky to play, then at least it will be interesting to see if it can pop off this uber-tight flag formation.
VoSI VooDoo(TM) Report - Bitcoin VooDoo Mania - Dabble at Your Own Extreme Risk
|Published:||3 Jan 2018 20:53 ET|
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