Friday, April 12, 2013 old penny flipper

I used to flip pennies on Caza gold when it traded back and forth around the 11-14 cent range, and then again when it traded back and forth in the 7-10 cent range.

But eventually it sank lower, volume dried up, and the volatility dissipated. When this happened I left it.

I've noticed a bit of activity this last week and the price has jumped back up into the range where I was last trading it.

I'll see how it goes Monday and Tuesday and I may start trading it again. I initially traded CZY using various Fibonacci techniques but after a while I seemed to gain an intuitive understanding of the stock, and was correct damn near most of the time. It really is a special feeling.

Interesting enough, I wanted to buy into Caza back when it was trading at .35, for a number of reasons. But, I felt I had become attached to the stock, and decided not to buy it on that basis. I'm glad I did. Then, after flipping it for pennies, I grown another fondness for the stock.

Anyways, take a note of the volume.

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