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Wednesday, May 09, 2018 8:54:47 PM
This stock was way overdue for a pullback.
I was speaking to a friend of mine who is also in this stock and I expressed my concern that this stock has run really far and hard without any corrections. Stocks normally gain value and people take profits for a pullback and then they take the next step. This stock has acted like very few I have ever watched. We basically have run from .004 to 3 cents and today was only the second red day since .004
It did that because of the enormity of the news of partnering with AB.
But when a stock runs like that it increases the chances of increased volatility due to the fact that it hasn't had the opportunity to consolidate. Experienced traders knew this was coming and I was hoping it happened sooner rather than later. Consolidation helps to raise the base and lower the wild swings when people get freaked out and panic sell.
Today was very healthy for the stock and those that took their profits on the panic will be posting their regrets tomorrow or Friday as this moves back over 3 cents and continues it's climb to .27
Some days your the bug, Some days your the windshield!!!
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