Post by
Stratocheif on Jan 11, 2021 8:19am
Trading pattern changed
As it made its stellar run from 2 to almost 6, we saw days of solid buying and prices steadily marching higher from beginning to the end of day. Now it has changed. Overnight action seems to bring price up at open and crashes during day. Pump and dump action by the bigger players taking retailers along as suckers. I believe my assertion a few weeks ago was right. This company has no earnings and no clearity in that respect. Future yes there is potential. But for now im trimming my position by 70% and taking profits. Valuation just not justified at this time and it may be a year before we have some numbers to go by (but i will be following diligently). How is it that in the most opaque and slow moving sector in the resource space, suddenly everyone is convinced uranium price will double next year?..fomo brought this from 2 to 5.68 imo...just like so many other stocks caught up in this insane meltup we are seeing these past few weeks in the market...especially in the small cap russel 2000. A correction is a high probability over next 6 weeks. Time for reflection and caution
Comment by
youngskywalker on Jan 11, 2021 12:53pm
When those numbers come in I'll be selling, not buying.