OTCPK:JENGQ - Post by User
Comment by
steam73on Feb 15, 2013 1:40am
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Post# 20993087
RE: Credibility
RE: Credibility
You have to remember, for every seller there is a buyer. Something tells me there is a hedge fund or insitutional investor who has a hate on for the management of this company and wants to send a message (and scare the heck out of everyone else who is trading in this stock).
I think over the next couple of weeks we will see slow incremental increase in the stock price. If today's St. Valentines' Day Massacre is the result of a shorter, then they will want to manage the price upwards as they start to cover their position. They will want to get potential buyers on the wagon again after the bloodbath that happened today.
The company is making money. The technical indicators say it is oversold. The speculators are out and value investors are in. The dividend is still a nice 7 percent after the cut. What we should watch for is a base to form and then an incremental rise in the price. Panic and those who are greedy are gonna win on this one.
Steam