Predictable Price ActionI think most of us saw the run up in PVG stock as a few "friends" bought shares before the steady state/production announcement. I am in awe how often this happens and never, ever does the SEC do their job. The other problem occurs when you cut an equity nearly in half- you have a giant amount of overhead supply- or people waiting to sell- that you must work through.
So there was no follow thru in price run up as some had hoped. The "friends" took their 20%, a few shorts covered, and now we must churn through millions of shares waiting to be sold- the good news netted us about a buck. The increase in thruput or a POG price north of 1350- or a buyout by a major- are the only upward catalysts I can see. Beyond that or inclusive in some cases, I still see writing covered calls at 12- in the forseeable future- as a pretty safe bet.