LEXG has given me some easy profits, but many more lost opportunities.
The key to this stock in the last weeks was knowing which chart to use to trade it in order to get a clear signal about what was happening. This is a ten day chart with hourly candles. There is no scale, but both pullbacks (the large red candles) were over 10% within an hour of trading. Each time it appeared to signal the start of a complete price collapse.
With a stock exploding as quickly as LEXG has, there seems no logical reason for the price to hold up. You expect it to go down just as fast as it went up - which means 30% to 50% in hours. To make it even more nasty, my broker doesn't accept trailing stops or even market orders on this stock. Meaning you basically have to manage with STOP and STOP LIMIT orders. The volatility is so great that most normal 5% or even 10% stop order prices get taken out within hours as well.
Even worse, overnight market market makers determinedly bid down the price to the previous days low just to make sure everyone's Stop order gets trigger first thing in the morning.
Recipe for success. Day trade, using 5minute and 1hr candles, and your finger ready with an order to sell as soon as you see a price collapse threatening.
Or, alternatively, buy, hold and hope.
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