Not a fan of jd73, but I think he's got enough experience
Not a fan of jd73, but I think he's got enough experience to have a decent feel for this thing. I'm long on this stock, but I think that jd73 is not far off in his assessment of things. Psychologically, there are times when there is a sense of euphoria and people at excited about the company and buying shares. Then there are times when there is panic and uncertainty about the company and people are selling shares. jd73 smells the panic and incertainty, and I'm sure he's seen this cycle many times before. I've seen it too, and so I see the merit in jd73's comments.
At the .073 level there is some support now. The sellers have sold, and the buyers have bought. Most of the knee jerk transactions have been made. Considering that it takes 3 days to settle the transactions, the in-flow and out-flow of the stock will be somewhat limited.
I think a drop below the .073 level would lead to another round of selling and can bring the price down to .06 or even .05. But if the price can maintain the .073 support, then it will take a few days for the panic/uncertainty to ease up and for some certainty to start to creep back in.
I don't think we will have euphoria and excitement again until the middle of the month. Again, I would be happy if there was a slow incremental increase everyday until the excitement returns mid-month.
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