RE:RE:RE:Here how Monday is going to play out.BiEric wrote: Goldboy10 wrote: BiEric wrote: Shorters are going to cover a little, with the increase of the sp, clueless people that still has $$$ will start buying, price will go up, then the shorts are going to come back in force triggering stop losses. Now take a screen shot of this post. Open at 9.25, high of 10.50 and close at 7.95$
It depends on US markets some early signals give a green monday on downjones(bitcoin up by 6% and futures on gas up a little bit) ... so regarding the MJ stocks and for ACB i see a little dip at open around 8.15$ and if it holds above 8$ for more than 15 minutes at open than early shorters will panic and will start to cover once we get close to 8.50 there will be another wave for panic short covering and it will send the stock above9$ so quickly...than sone buyers will see green and they will start buying this will send the sp above 10$ ...the question will be : can we stay above 10$ by end of the day...if the answer is yes...so we will have a reversal trend and to 13$ we go by friday. Glta
The thing is, the correction triggered the balloon bursting, the market will rebound but not sure about the mj stocks... you cannot on retail alone increase the sp at those level, you need institutional $$$
Institutionals they shorted massivly this stock and whe they start to cover it will be huge short squeeze for retail shorters again its just a question of time but i see a shorter squeeze around the corner like 15 minutes after markets opening monday