Cemjq ran from .04 to .105 due to the DIP financing. When the news came out that day, Chemtura launched. The fundamentals was the primary impetus, not the charts, at least with respect to that initial spike.
Don't get me wrong, I do believe in charts, but only in conjunction with fundamentals. I was initially surprised at the % of retracement (didn't think it would retrace below .105). However, it also bears pointing out that these sub penny stocks tend to have larger deviations than their higher priced counterparts.
After the first spike, it also retraced more than people thought. As I recollect, it retraced back to the .07's before launching upward again. Charting a sub penny stock and charting a regular priced stock are not one of the same. I don't think the charts adequately account for the larger deviations from the norm that we get in the pennies.
Wamuq also followed a similar pattern...spiked up and had a hefty retrace, before resuming it's uptrend. I believe we are in the same pattern with Cemjq. I think we bottomed today (sure hope so) and would be flabbergasted to see .06's again. Perhaps, we may see .08's, but .06's I don't think so.
At any rate, this is oversold and due for a bounce. I also believe that just when we least think it (even in absence of news), this one will run, just like it did that 50% up Friday.
Anyway, can I please get a bullish reversal with my BLT..oh and some green on the side...thanks!
AI
Market Data 
Markets 
