No, not really. It is being manipulated by the market makers. Both longs and shorts also got screwed for past few weeks. One cannot hold JASO for long either at short or long positions. Just trade it.
There you go.. $7.00 (or lower later) as expected. Covering here.
Perhaps indeed, the MM wants to bring this back to the $5-$6 level later. They intentionally gap this up, so that they could short it, and if it's low $6, they'll buy this back. Just do this ahead of them, it will work.
Same pattern will revolve here.. they gap it up from the 6.xx from last week,
they will bring it back down. It's ok to ride it down to 7.00 or upper 6.xx
As long it can close above $7 today, I think it is still bullish.
Let see how it will close today. Anyway, scalp a little at 7.30 today.
Will buy the dip if it pulls back to low $7 or slightly below that.