Still very new to semi-aggressive trading. Caught my first biggie today. Bought Valence Technologies a week ago. They are at the forefront of large lithium-ion batteries, which seems to be the wave of the future for hybrid cars. After GM went begging to congress for funding of this technology, I figured it was time to pickup this stock at $1.56. The company still isn't profitable, but they hold all kinds of patents and are clearly the company to benefit most (as of now) from this new technology. The had some big test for California agencies today + a non-dissappointing earnings report shot the stock up all in the last hour of trading.
So what do you guys usually do in a situation like this? The valuation is still pretty poor on this company. I imagine they'll be some profit taking tomorrow. But the stock is still only $1.89 - lots of upside still.
Any advice is appreciated, and no pressure on making perfect advice. I'm here to learn! ....And I guess I'll post some of these prospects from now on too. Just wanted to make sure I knew what I was doing first.
So what do you guys usually do in a situation like this? The valuation is still pretty poor on this company. I imagine they'll be some profit taking tomorrow. But the stock is still only $1.89 - lots of upside still.
Any advice is appreciated, and no pressure on making perfect advice. I'm here to learn! ....And I guess I'll post some of these prospects from now on too. Just wanted to make sure I knew what I was doing first.
