Madmacs, Bigcharts shows GGY gapping down on the open this morning and on high volume. Need to be very careful, (1)gaps down will devour the value of your position(2) heaps of daytraders are chasing anything that has U (3) GGY has a collection of assets BUT this was a momentum play on U (3) GGY sold the U for a pittance, hence the sell-off. IMHO the momentum play is "busted" and the lemmings who bought on credit have rushed for the cliff (4) this sets off a chain reaction, stops get hit, lemmings sell to cover their purchase price at a loss, technicians sell (5) then comes next monday when the moms and dads call their brokers to get out. Will 7.0 hold? who cares if the U is gone....
GGY Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
