Just Covered My Entire Short Position Also, Thoughts for longs
DUNG has busted through three levels of support and has done so in the last two weeks. Two of those were strong support levels. With no news to account, this is highly unusual and suspect. This was a gift to SHORTS. Gio is calling for $5 and I dont see it/ but I didnt see $8.39 either. DUNG never has respected support lines and this is why SHORTS like the stock. I tend to think we see a rebound from here but im going to sit on the sidelines now and wait to see what the stock tells me its going to do. This has gotten kind of nutty. The selling is way overdone IMO so ive taken my money off the table. Chinese stocks with more proactive management that keep shareholder communications open dont tend to have this kind of volatility and manipulation issues. Ex: BIDU, NTES, VIPS, MPEL Examples of the opposite are RENN and DUNG. Compare the charts.