GREY:MDCGF - Post by User
Comment by
Indicatoron Feb 15, 2011 3:33pm
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Post# 18138182
RE: June 3rd
RE: June 3rd2 words - Aggressive Shorts!
It seems everyone who currently wants a deck chair on this boat ride is already seated and the demand has peaked. Yes, it puzzles me also and I am also hoping that changes. I put it down to aggressive Shorts that take the pulse of waning volume after news and know that buyers are still scarce, so they can easily make a buck Short after news releases. Also the memory of great past news and the stock going into reverse screwing retail longs over, still stings in everyone's minds.
My projection of .68 is an optimistic view based on getting a run past current strong resistance of .64 of some sort prior to June. However, due to the large float and history of how this trades, I believe even if we do get a run at some stage, they will hammer this back to previous support areas which would then be in the .64 range (previous resistance becomes support). I chose .68 just to be a little more optimistic after seeing my .64 number was already taken .... lol
Problem is if we don't get a steady stream of news from here on out, we'll likely see .45 before we see .65
We need news and lots of it to get over this hump and worry!