Isn`t it nice to know that I called a bear raid before it actually happened, within hours of it happening. Now that shows EXPERIENCE.
Why did I say that? Because I have seen and lived it hundreds of times.
That is what happens when you have amateur investors (longs) who trade around the core, making it a perfect recipy for a disaster. A truly long buys the stock, puts it in a drawer and waits the shorts out. In this way there is nothing to manipulate. However the longs on this stock who think they are smart will put stop losses for all to see. When a shark sees enough stop losses, which are really market orders he or she will figure we can illegally start a collapse. It is not hard to do.
The last few days have FLUSHED out most weak longs, I am happy they are gone. The other longs who are holding are more gutsy so it will be harder to move them. Also we are now in bed with the sharks whom have same intentions as you. They want stock to climb.
So for all the pumping I was accused of doing, notice how total panic reigned among the small investors once the little bit of reassurance was removed, being myself. One has to question it is not a stock problem but a people problem where the average investor in ETRM has no confidence in themselves, in their decisions, in ETRM or anything else in their life. A stock is simply a reflexion of who you are. If you non confident here, chances are you are a non confident person personally.
Now I repeat, there are 7 more trading days of games. This will continue hard time. If you don`t have the stomach for it then sell but forget that stup*id stop loss, will you. Otherwise you are just trading at a LOSS.
Many people purchased large positions on this stock going way back some time. Unfortunately most of these buyers also carry that mentality of trading around the core. I don't know that as it limits your potential return. They think they are doing a favor but without realizing their technique will always stop a rally thereby limiting themselves. Sometimes you have to take the reigns off the horse.
Where I do see this going is your question?
This clean is actually very good since it eliminates all those stop losses which would have been triggered anyway before the Fed Panel meeting.
This is what I see. For the next few days to a week we will have volatility meaning we open up close down, open down close up, but going no where. I think that by Next Thursday July 12th the 6 million shorts will realize they have no choice but to cover or hedge by buying calls. I think it is possible that close to the Panel date we can see a spike of $1 on no news that is then sold off a little. Before Panel date I see a price of $ 2.25. Then a HALT. On June 18th, I see approval and VOLUME swelling to 35 million shares as stock triples or higher on approval. A little longer term I see $ 15 by September 2014.
100% on target commentary. Bottom line, they shake out the weak ones and then get out themselves before any decision is made. This will get approved. The sleep apnea device is a precursor. $6-$8 by July. Could go a lot higher...