In answer to a Private post to me by LT I would rather make my answer public. Hope you're OK with this LT, but my instincts tell me many more of us are also wondering about the high volume and price dip.
I think we must keep a balanced perspective of Friday's action and the attendant dip in price.
This stock was nowhere just 4 short weeks ago. We still have many people invested at dollar prices. There are 17 million shares in the float. There will continue to be profit taking for a while more, IMHO.
However, there is, IS a solid base forming at 2.625 to 3.5. Actually I believe HAS already formed. Tie this together with the opportunity this stock is giving to the MM's and you get more volatility.
I'm quite comfortable with where we are, not so much because we are still substantially way above my entry point but for the way we are going North tied together with my GROWING belief that I have a real winner here.
I can't make any projection as to where the price will be at various point in time with any, ANY certainty. However, with that said, I will not be surprised if we quickly go into double digits before July. I AM NOT HYPING. just that I wouldn't be surprised and that I have a LT perspective and while what the stock does on a daily basis, may bother me from time to time because of the manipulations, I do not believe will affect the outcome.
Please read my post earlier this am. By the way, my son works for one of the largest IB firms (I cannot name them for obvious reasons and NO they are not recommending PNLK one way or the other,) in NY. This is their latest assessment of the net sector and how one must, without ignoring the principles of DD, not let too thorough an effort in DD keep you from getting on the train.
Rich |
