The day in review. I'm not overly surprised BTG
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Posted On: 06/02/2017 3:15:45 PM
The day in review.
I'm not overly surprised BTGI retraced most of its gains of the last few days. If you look at the reason why it went up, it was on a single projected earnings PR that anyone following the company already knew. IMHO, the stock rise was clearly a overreaction, so its just natural a re-tracement should occur.
What does surprise me is the speed at which both rise and fall happened. Not being able to hold its gains is not fundamentally good for the company.
Oh well, Its still up considerably for the longer term investors, but all the short term traders got sucked in, largely by all of their own self-generated happy talk.
There is a lesson in that somewhere.
I'm not overly surprised BTGI retraced most of its gains of the last few days. If you look at the reason why it went up, it was on a single projected earnings PR that anyone following the company already knew. IMHO, the stock rise was clearly a overreaction, so its just natural a re-tracement should occur.
What does surprise me is the speed at which both rise and fall happened. Not being able to hold its gains is not fundamentally good for the company.
Oh well, Its still up considerably for the longer term investors, but all the short term traders got sucked in, largely by all of their own self-generated happy talk.
There is a lesson in that somewhere.
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