I have been hampered by the 3 week expiry of so-called good-until-cancelled orders. There is this stock that buyers have deserted, but I believe managment have a good turnaround strategy in place. The price has been collapsing for 3 months due to the absence of buyers. I picked a buy price and placed a limit order. I was right at the front of the queue at that price. There was some buying support about 10% above my order price, so after 3 weeks, I had to "modify" the order as it was about to expire. In the meantime many more orders had come at my price, so my order went to the end of the queue. A few days later the price dipped to my price, but the volume was not enough to clear the queue in front of my order. The next day, the same thing happened. I am now second in the queue, so still hopeful, but if there happened to be a positive announcement today, I would miss out entirely.
Am I missing something?
Thanks in advance,