NNRF Inc (NNRI)

[Johnnyv]

I did not read any of ST's chart spinning on this stock, but if you look at my post #3022 I clearly stated that after the big move to around the $10 mark, then the stock consoliated for a period of time as a Descending triangle. At this point any basic chartist will tell you that the LIKELY direction of the next move is to break the descending line ($1.80). This IS A BASIC as stating that one and one is two.
The stock obviously broke through the 1.80 range with volume . As we can all see the stock is still moving down and already has almost 120k volume (half of daily average) in the first 90 minutes of trading. This looks ugly.

Listen I bought at 3.04 and sold at 1.69-1.70 (except for 100) and you would think I would know better. I admit I was a bozo. the intention of my post is not to gloat or anything like that... nor do I short two dollar stocks, besides IB will not let me short this stock. MY ONLY motivation is add another voice . If you look at all my post on this board you will notice that the chart did not lie.

IN technical analysis news trumps charts and Ihope for all you longs that this turns around. If you believe the fundamentals of this company than hang in there. But please do not average down or anything like this at this time. If this stock could break $1.80 with volume I might look again (volume over one half million shares in a day).

John