If the company was going to avoid bankruptcy, the insiders would be buying more shares hand over fist. My sense is that they are unloading as many shares as they can at whatever price they can get. I predict that MILL files bankruptcy before Labor Day 2015.
My best guess is that they will file Chapter 11 within 1 year if not sooner. Nothing against MILL, but the sharp decline in crude has decimated MILL along with several other small and micro cap names in that space.
I guess I got lucky. I dumped UWTI last Thursday at $2.81 for a loss of $2K. If I held on till now I would have lost another $6K. Not always a bad idea to cut losses.
Have a nice 4th of July Weekend everybody. Do not drink and drive or else you risk the chance of getting a DWTI. (Driving While Totally Intoxicated)
Although nothing has changed with SNTA, I believe the market is in the midst of a long overdue 10% correction. If that happens, I see SNTA falling under $1.75 at which point it will be a screaming buy.
I hear you. It just gets frustrating to see the market makers jerk SNTA around without justification. I'm in at $2.65 and will try to ignore the day to day movements that you imply are irrelevant.
With the market up as much as it is, there should not have been that much profit taking. I'm putting a stop loss in at $2 and not looking back.
I hope you are right as I own SPXS which is 3X the reverse of the S&P 500. Unfortunately, every time an expert calls for the market to correct, it keeps chugging higher. Obviously, the Fed will hold the key as the market rally from 2009 to the present has been artificially inflated by their near zero interest rate policy. Eventually, something will give and the market will implode. The question that remains is how much higher it will go before that happens.
I too believe that the market is on the verge of a correction of at least 10% which hasn't occurred since 3 1/2 years ago. (3rd longest in history) In any event, I am 60% in cash, 10% bonds, 20% equities and 10% in SPXS which is triple the reverse of the S&P 500.