If I was shorting (which i am not and never do) I would be covering at just above $3.00. Next stop below that for me is $2.80 is then $2.25...
Just below $2 is the 61.8 Fib retracement - which IMHO is long way unless we have negative news flow...
The snorters that are playing now know where the itchy feet are and try and trigger the stops. They obviously got a few today..
With the impending news flow expected, unless you take a short term trading view (which anyone is entitled to do) I wouldn't worry... If I was short, I would be very, very nervous with all the milestones about to hopefully fall into place.. but then again, most shorters know little about the FA (Fundamental Analysis that is) of what they are in... Ignorance is usually bliss....
The first could be very soon, with the team traveling to Korea next week to nut out SKEC EPC contract....
Lets see what happens between now and Jul 2015 and see if our friends are still holding out for the magical $2 mark...
anyway... back to my cup of Teeeeetete.....
Ann: Investor Presentation, page-28
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