Looks like the bots are probably going to take it back into the low-mid 30s again with the help of profit takers. Couldn't blame anyone for taking 5-25% on this. Hopefully, with some luck, this will start getting some northward traction next week.
Your call and guess. The spikes are guaranteed to be followed by the hedge throwing water on the fire. If this was headed lower they would let it run and unwind in the lift. They take short term short positions on the spikes and immediately cover in the short term retracements with their software and machines. No matter what eventually this is headed much higher. To minimize the pain your entry position should be on the substantial retracements. Looks like today there maybe none. Where is this headed? If its going to .50 than these levels are a steal. If its headed to .40 then you have less room for trading. Sell any crazy spike and buy Hedge induced trap door drops and you'll rarely lose. Otherwise stay on the sidelines as the safest money is waiting for the screaming buys and takes profits when they are presented.
good advice snobord, esp. about the "screaming buys." I am guilty of always being a trade though :) My dog, 23%+ now, nice job. I'm probably gonna get in some time today *IF* it corrects a little bit!!
Point well taken, Except that this was such a B.S. Sell off, that it may move up quite fast. If you try to trade it and time it, you may miss a majority of the gains on this one. No predictions, just something to consider.....