Ward said;Your stance seems to be "if it hasn't happened yet, there's no value in even discussing it because it's not fact".
Because "every scenario" is nothing more than a hypothesis, the hypothesis should be well substantiated. The $3.00 scenario is not supported with any fact. It can be debated at length but the facts remain;
1) The stock has shown no weakness to substantiate a prolific fall to the $3.00 level.
2) Sufficient buying seems to appear at the $3.85 level to support the "fewer and fewer shares" available at this level
3) No "track record" has been established as to what will happen if it were to break the $3.85 level
4) Market depth at anyone point does not seem to indicate the direction of the stock because of "impulse buyers", for this stock.
5) TA is useless on "event driven" stocks, with a single product, such as this.
Your motivation for discussing a $3.00 level is clear! We on the other hand believe the stock will cycle between $4.00 and $4.90 with opportunities to take some profits and lower buy in costs. The position of a $4.00 to $4.90 envelope has been demonstrated, whereas your $3.00 scenario has not. As a result of this stock not testing your prediction, or even giving any clear signs of that prediction, there is little to debate. In fact, the $3.00 prediction is no more substantiated than predicting $1.50, which I am sure you would love to discuss.
So by all means, keep on with your predictions but try to include "logical reason" as to why you feel this stock will test these levels. Once we have that data, we will all sit back and see what happens. If you were right on your prediction then I will be the first to complement you on your foresight. If you are not, we would expect the same!
the Chief |
