GREY:DRGDF - Post by User
Post by
smilleyon Mar 25, 2009 8:03pm
422 Views
Post# 15871226
Today's Price Action
Today's Price ActionI managed to sell 300 and buy 400 for a modest profit today. A bit tighter trading range with what appeared to be several short coverers picking off each others bid cappers at times. Some serious sellers (5,000 - 10,000 lots) entered the market about midday and effectively capped the SP about $10.65. The shorts don't seem to be in any hurry to cover as they just picked away at the larger lots all afternoon. Anybody know the latest short-position???
I'm looking for a gap-up tomorrow with a rally to $11.50 as long as POG stays flat or uptrending overnight and into the session. If things go as planned, I'll lighten up my position at $11.50 - $11.75 depending on how strong the rally is. I'm sitting just above neutral on my core position, so any pull-back near $10 I'll add. My short-term price goal is $13.50.
Remember, nothing goes straight up. Its ok to take some profits and lighten up as insurance against a pullback. I honestly believe this company is going to get taken out, but not till summer or fall at the earliest. I believe we'll be up to $20+ by then as long as POG doesn't tank. Like everybody else, I'm waiting for the explosive $100 one day rise in POG, but I think the price is capped at $960 for the time being. It makes for nice day trading fluctuating from 900 - 960 but does nothing for the longer term investor except increase anxiety. Good luck DGCers
Wheeee, this investing stuff is fun!!!