XpresSpa Group Inc (XSPA)

[tobinator00]

I have invested in highly manipulated markets for about a decade, and it appears that experience is quite applicable in the patent play sector.

Late in the day I started watching the tape. She was ready to surge through $3.22, the downtrend resistance line. The shorts reserves came to the front line and gunned down the bids. Though we did not get through the downtrend line, I consider this a small victory. The shorts were unable to push the price into the low $3's and pin it there. 1 million volume today was great as more short sales and stale longs got out and buyers have come in. The longer the price stays here, the worse it is for the shorts. The Pavlovian trade of sell the spikes and buy below $3 days may be coming to an end.

I'd like to see a close tomorrow over $3.30 and will really be pleased with a close over $3.40. Should the latter occur, Monday would likely see another short squeeze spike and retrace.

http://stockcharts.com/h-sc/ui?s=VRNG&p=D&yr=0&mn=4&dy=0&id=p57700612870&a=298953728&listNum=3

My folks have watched MASH reruns for years but that does not mean I am a spring chicken. The big 50 looms large on my horizon.