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Upstart777

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07/07/17

15:02

Post #: 25730895
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Originally posted by wombat53 ↑

Expecting a V-Shaped recovery after 56% collapse?
Markets typically don't work that way (absent extraordinary news events, which we cannot predict). Look left on the Chart at that massive overhead supply, of holders in pain, having bought higher (I posted several charts this week - a "good news" week).
Some may well choose to hold for the much longer term, but many of those who've waited a year , rode it up and then all the way down, will clearly want to get out at break even. It's human nature.
I've sold the rest of my position today, and will buy in on any pullback. 25% in 3 weeks is not a fortune, but nothing to be sneezed at. Some of us are....old....and don't have years to wait.
Of course it could well go up 250%, 2,500%...I don't know....many claim to know....but there are always pullbacks (i.e retracements, both ways).
Certainly a Weekly close above Daily Chart Resistance $2.00 (and also of "psychological significance" as a big round number) would be a good start, and with only an hour to Mkt Close, it looks like we'll see that.

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Markets work by the Big End of Town plunging the stock down to relieve holders of their stocks at bargain prices while sucking up as much supply as they can squeeze out before marking up the price. The 883,000 shares for sale above $6.50 is their calling card.

GXY Price at posting: $2.08 Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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