{"id":89,"date":"2012-09-11T02:42:48","date_gmt":"2012-09-11T02:42:48","guid":{"rendered":"http:\/\/ngz.rul.mybluehost.me\/?p=89"},"modified":"2020-10-07T19:02:41","modified_gmt":"2020-10-07T19:02:41","slug":"bounce-trade-in-kcg-knight-capital-group","status":"publish","type":"post","link":"https:\/\/www.beatstockpromoters.com\/blog\/bounce-trade-in-kcg-knight-capital-group\/","title":{"rendered":"Bounce trade in KCG – Knight Capital Group"},"content":{"rendered":"

\"\"<\/a>Since it is still summer there haven’t been many true promoted penny stocks with high volume so I have been scanner for other low priced penny setups. While Knight Capital Group (KCG) isn’t exactly a penny considering it is one of the largest market makers in OTCBB and Pinksheet stocks and in the pat earned a profit unlike most penny stock, this week the stock dropped into penny stock territory below $5.00 per share. The drop was due to some trading glitch and resulted in a $440 million loss for the company. The stock dropped from $7.20 to $1.80 in two days. I traded the stock on the second day of the sell-off. I bought it on the open at $3.30 when my technical trading system gave me a buy signal which told me that the stock was in the buy zone and ready for a mean reversion trade. I sold the stock at $3.95. Patterns like this setup any time a stock gets very overextended you just have to know how to determine bottoming price action because buying the first panic sell-off in a stock, can usually end up resulting in a big drawdown or a loss.<\/p>\n","protected":false},"excerpt":{"rendered":"

Since it is still summer there haven’t been many true promoted penny stocks with high volume so I have been scanner for other low priced penny setups. While Knight Capital Group (KCG) isn’t exactly a penny considering it is one of the largest market makers in OTCBB and Pinksheet stocks and in the pat earned … <\/p>\n

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