Yes, it's nice to see green but 1.30 means nothing to me unfortunately (I think it needs 1.38 or higher)
There are already 30m shorts back to break even or deep under water (up to 40% losses since march 7th), yet they're not interested in covering yet They will wait for the market flushes & absorb all the panic selling The red will come I still can't believe half our short positions came after we dropped under 1.38 (when the market had almost hit its floor)
Anyway, I just hope we still have retail that will buy the dips & hold when the red comes, rather than chasing this up from here
Btw, not all upper bookends are real That's just market makers keeping the sp in check It moves as the sp moves There are large parcels being sold as the sp climbs, so they can keep covering without the sp flying too fast (keep shorting on the way) They do need 70m shares & impossible to get naturally
PNV bears have almost reset We should see how bulls defend by next week If bulls put up a decent defence & we might get some forced short covering that drives the sp higher, as they take losses & panic cover for a change PNV bears haven't had a reset since Jan 2025 & we all saw how PNV bulls handled that back then
I judge a stock by how it handles the red candles, not the green
PNV Price at posting:
$1.30 Sentiment: None Disclosure: Held
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