This ain't over yet. The shorts will try again - they don't simply capitulate at the first sign of buying strength and run to cover out their positions. No. No. No. They know perfectly well that way they lose, big time. Better to gamble again with hard-core selling to extract from their position before the new price trend gains momentum.
The market does have a low, an inflection point at 34c. MYR could well retest that, though there is an army of buyers ready to take advantage of such an obvious signal. I don't predict that, merely point out the distinct possibility.
I am long and underwater, like many holders. Let me caution longs against excessive hubris and triumphalism too soon.
If it puts on another 5c tomorrow, my caution proves I am a pussy. Y'all can have a giggle at my expense.
DYOR GLTALongs
Ash
MYR Price at posting:
48.0¢ Sentiment: Buy Disclosure: Held
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