Just bought 2500 more. Agree w you on bottom. 280m tonnes of coal worth $14 + today.. This is easy money, should see 7's by next Tuesday.. Did that 6 straight times, had last sell order at 7.25 missed as it "only" went to 7.07.. Anybody buting today makes over $1/share in three days...jmho and a profitable one at that...
Agree, missed many selling opportunities, will play this much more cautiously and hopefully have better buy/sell points. But few things to consider:
1) buyout target
2) short interest can push this to $8-9 range
Out of 49.67 million shares held by share holders (35.65M of total shares of JRCC, and then 14.02M outstanding borrowes shortshares):
Only 0.1M sold at $6.05-ish. And out of which most are shorties selling from left hand to right hand trying to push the price down.
So really only a few coward longs sold maybe 5 thousand shares. That's all.
The 14M outstanding shorts have got to cover at some point.
Where can they get the shares if all 49.67M long holders want to hold the shares here and do not want to sell? There will be a major major short squeeze until it becomes sweet enough for some of the 49.67M long share holders decide to sell some.
i bought back in, sold a while ago and have been watching, but like you said it can't drop forever and played it off the $6.06 area. lets see what happens. From previously trading JRCC $6 was a major support several times. If it drops below I will wait it out this time.