I agree.
I think BRM are a good long-term hold.
These sensational runs have happened on FDL, RMS, INP, IRM, MDX and countless others in the past year.
A common theme persists.
1. Fantastic announcement - open 50% up and climb throughout the day fueled by traders.
2. Open a little bit further up the following morning as the overnight crew kick in for some shares. Maybe up 50% on previous close.
3. Crash down mid afternoon to close about 30-40% down on peak, usually somewhere about the previous day's close if not lower.
4. Relentless downtrend over the following six months as traders get out and investors get bored with no further news as good as the initial news.
Tomorrow BRM likely to open about $3.20, go to around $4 and close about $2.70-$3.30. It will then fall back to about $2.20-$2.50 over the next week.
We'll see tomorrow whether I even came close.
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