imo, there is headline risk in either direction, but the stock has tripled in less than 8 weeks, the short position has probably dropped dramatically, and there's a lot of congestion in the mid-$3's, possibly a double top with the early March spike.
also, there is no MA support above $3 - 200/50/20
the 200DMA is $2.93, and the others are significantly lower.
Personally, there is no substance to the rally. I really think that (once again) we will see nothing get resolved. It only takes one country to mess it up. I will be a buyer after, but I think there is massive downside and we could retract back into the 2s. To be honest, I just don't feel very confident in SA and Russia...that is just me though. I'll re-position myself after there is some clarity. :)
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