Hank, I do not agree with you on the technicals, especially in a stock where someone is manipulating it down, until he can cover under a new wave of soldiers he throws at it.
But, it really does not scare me even if it goes lower briefly. What nobody here seems to understand is that I understand more about REFR than the shorts and others and have no worries. Not long ago the technicals, as you call them, dropped the stock to $12. Actually, it was not technicals but a combination of shorts and an MM called GBIC. So, I bought all the way down and heaviest near the bottom and have huge paper profits.
What would you say if some group went and bought 500K shares against shorts who could not fight back and the stock rose? I have seen that happen with absolute frauds, which REFR is not. Would the technicals look very positive? probably. Would the stock stay up? I doubt it.
Since I have no margin, I don't worry. Frankly, it is a buying opportunity but the shorts chickened out and did not push it low enough where I left my first bid.
I will say this. I think it cost Asensio (as a proxy for the shorts in general) plenty to hit the stock for a week or so and make the technicals look that way. Then, a frantic weekend where he probably got Jacobs to release a negative, but meaningless, "news" article at 2 PM and at about the same time have GBIC do a cross transfer of 143K or so shares on a day when the real volume was the low 20's. Then a barrage of postings on Yahoo.
This morning, before the market, they got the MM to slide down and open it low.
unfortunately, two licensees also put out news releases. One to show Jacobs he was lying and the other with news released when it was ready. And, his new Fools were not very effective. Heck, I think a few sold but into his hands as Asensio partially covered.
So, we closed up for the day and I assume the chart improved since we closed at the high. Nice new candle.
I am not predicting the next day or the next week. I do think today was the beginning of a 1-2-3 punch in terms of more news convincing more people that SPD is real and REFR will be making lots of money. My future is firm. Asensio is not.
May I bring up another topic. Maybe best in another message. |
