"I have to brag on GB55 in coming up with his concept"
GB55 doesn't know shit!
hi simple.....there's nothing new under the sun....i'm sure i picked it up (stole it) from someone else at some point over the years....i must say that i have tracked a lot of methods over the years looking for a magic bullet and this one has the best results of anything that i have personally tracked....of course, it does produce dud's....i don't know why the .80 area is sooooo important.....when they break below that, the bottom usually falls out and they head MUCH lower....in fact, the majority of these go MUCH lower after they do the $1 boogie bounce.....they are down at this level far a reason.
i'm guessing that a lot of people are buying these at $1 and setting 20% stops....as these people take thier loss, along with whatever selling pressure that brought the pps down to $1 in the first place, cause the pps to crash.
the main thing i would like to stress is that people take thier 20/25% gains when they have the chance....that's the sweet spot....after that, the odds of a second bounce are much lower....IMO and IDKS
