Even with the piggiest of the pigs, all momo stocks experience some sort of dead cat bounce. SOL is no different. I took a position at 3.01 as I like the risk/reward ration for a trade. Not a long term hold, but a trade. With short covering as well, could bounce back to 4 and then when the dust settles, should spend the next few weeks drifting.
The problem is there is no good news on the horizon. There really is nothing that I can see that GNK can put out that would construe as good news. Hope Im wrong because I have my hands full with this pig. Maybe end of year short covering to lock in gains??? On the other hand though, people may sell and take the loss for tax reasons, causing it to drop more.....
Only time will tell :)
Im long this turd, and was hoping to get in at 3.40 for a bounce,, but needless to say I pulled the trigger too early. May have to cut my loss here as GNK seems to have lost any momentum with all the 2ndary talk out there. Oh well. Win some and you lose some.