Stops on PenniesThere may have been some stop losses in play here as well which some traders feel are dangerous for these penny stocks. I bought some more at .80 after the spike this morning thinking that was the correction and in hind-sight we may have been set up during this three day run up for some profit-taking. SLI experienced a 50% drop in the last three minutes of trading a few months ago with someone on this Stockhouse offering ominous warnings leading up to the crash with a subsequent turnaround in the SP the next day.
Lesson Learned - Keep your losses to what you are comfortable with (stop losses or not), expect corrections like this from time to time, use these opportunities to average down or just get in at better price.
Thanks to vette350 for all of his insight. I'm holding for the long run and the value seems very apparent.