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- Aug 20, 2012
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Forgive me for my ignorance but this is something I've wondered. I've asked big stock guys on Youtube this question and while they said it was legal, they did not support the concept at all.
So take day traders, especially ones with penny stocks.
I've noticed that (at least through my little "RobinHood App") that when the market opens, on the stocks I've been following, at around 9:50-10:00, there is a massive dip, and after that they simply skyrocket, peaking at around 11:00.
Now keep in mind, I've only been reading about this for a short while, but I've noticed that pattern.
Now take Berkshire Hathaway. It costs roughly 190K.
Using today as an example
Why couldn't I buy a share of that in the market low (12:25ish)at $190,020 and sell it at 2:25 for $191,733
Like I said, I know I am oversimplifying but my point is. Taking a HUGE stock, and feeding off of the small fluctuations of it, which are massive to me because it comes close to 1700 bucks.
Granted, I know it's not easy to just have 200K sitting around, but even if you did this a few times a month, that could seriously help you out financially.
Please, go easy on me, it's just something that struck me as fascinating, as I'm just getting into reading about stocks and the market and this is all so new!
Is something like this illegal ? Can you abuse the hell out of a stock like this, or is it fair game?
Thanks
So take day traders, especially ones with penny stocks.
I've noticed that (at least through my little "RobinHood App") that when the market opens, on the stocks I've been following, at around 9:50-10:00, there is a massive dip, and after that they simply skyrocket, peaking at around 11:00.
Now keep in mind, I've only been reading about this for a short while, but I've noticed that pattern.
Now take Berkshire Hathaway. It costs roughly 190K.
Using today as an example
Why couldn't I buy a share of that in the market low (12:25ish)at $190,020 and sell it at 2:25 for $191,733
Like I said, I know I am oversimplifying but my point is. Taking a HUGE stock, and feeding off of the small fluctuations of it, which are massive to me because it comes close to 1700 bucks.
Granted, I know it's not easy to just have 200K sitting around, but even if you did this a few times a month, that could seriously help you out financially.
Please, go easy on me, it's just something that struck me as fascinating, as I'm just getting into reading about stocks and the market and this is all so new!
Is something like this illegal ? Can you abuse the hell out of a stock like this, or is it fair game?
Thanks
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