RE: Selling PressureDosen't sound like a few here are having a good time. Your talking about P here but look at the whole market its played the same way just different dollar amounts. Relax learn the game or the sharks will take your money before you get theirs. I agree p has great steps in pricing. A double on a day will never hold in most cases.
So thats fair to say is normal. The first step in selling pressure. Or profit taking. The second step in selling pressure comes as holders watch price to turn back up toward what they payed to get in as now its below them. Each day the pressure gets greater as they watch their losses build. Each day is a new step down for this stock as it closes lower taking out the players on the way back down. Some getting out even others with small profits left others with small loss. Then you have test of nerve's left over who own at close to a 50% loss
as it closes today. They sell the bottom just before it turns back up or finds support as they can see the trend is still down again today. And then you have the holders at .33 to .35 who didn't sell yet and make a last attempt at last chance for profit after not taking a large one last week they get out also.
In the end you find support level and the buying starts again for the next round and for those that believe in what P is going to be and are willing to wait at any price until they see the real profit their looking for.
Those people want more shares at .35 to .40 so their happy to see the price go down because their working on a average price buying over time letting the day to day ride.
P has made alot of steps forward even though the price isn't saying it. Add some new orders and you'll be glad you held a loss as of today. Along with money this company has to build plant and backers whats to complain about? Other then todays share price. When you see the light at the end of the tunnel get off the track next time.
Trading habits are hard to break on this stock. Its been a bumpy road for 3 or 4 years for alot of people on this one. I've only owned in the last year so its much easyier for me to relax being happy with my positon but understanding others positions who have been to H and back with this stock before today.
Going to be a interesting year ahead.
Littleguy