Element Global Inc (ELGL)

[stockguru1971]

Anyone who had this in low teens and didn’t take profit in the high 50s is sick. The stock ran with zero substance and people bought on the hype. Then reality kicks in and then panic, then the reversal. Classic otc.

I had this in the 11s and scaled out from the 40s up. Happy.

That being said, I will scale back in again should the opportunity present itself in the low teens again. I don’t see news any time soon, look at the basics, Qs all have to be done, stop sign has to come off etc.this is all time consuming so I’m not holding my breath. I still believe this is a bit at the right levels but the hysteria’ that this was going multi dollar was far fetched.

Otc, always beware, don’t trade emotion.a parabolic overextended chart 9 out of ten times always corrects, this is proof here. Do I totally rely on charts? No however, they generally get it right.

It will move again no doubt, may even drift up a bit but if your holding for news, I wouldn’t hold my breath .

Have a great Memorial Day weekend folks