This morning SAS announced an MoU with a Chinese Launch Service Provider which sent the stock up nearly 5% to 8.8c on first bell but by 1pm, the stock sank to its new all time low of 7.8c and now hovering at 8.2c.
Price action tells you there are people just waiting to dump the shares and as per my previous post, this could get as low as 6.6c before the buck stops. This price action mirrors the 'falling knife' chart action that I have been warning about (there are lots in that bucket now e.g 9SP, GSW, BUD, YOJ, BLA, EN1, CT1, ...I could go on). The psychology behind these is simple- the disenchanted are waiting for a reprieve to get out and a good announcement sucks new players into the game- watch out and beware.
