Just look at the volume on the daily chart and it says it all. Minimal volume to walk it all the way down to 5. Once 5 hit, take a look at the volume spikes. Huge buys coming in and soaking up the panic sells. Any basher who says this was wholesale dumping can't read a chart. I thought it was a massive dump until I looked at the volume spikes after 5. This was MM's taking out stop losses and a bunch of weak hands selling out trying to catch the O*A* run. Lowest volume day in a long time so this was not strong hands selling off. Heavy hitters came in at the end of the day and pummeled the ask scooping up all the weak hands. Sure we could see this dip tomorrow but my thoughts are that with news around the corner, most strong longs will be averaging down and adding to their positions. News will come and when it does, this should reach new highs.
I was involved in the DN*N bair raid as well and the PPS recovered no problem the following day. CNEX is fine and in the hands of some strong people. Hold tight and don't let the bashers (who have misteriously disappeared) persuade you to sell. All of them were brand new names recently registered and I'd bet my entire CNEX position they were paid bashers who came in to drive the price down so MM's could scoop up cheap shares prior to a monster run. I can't prove that but my gut tells me I'm right.
Go CNEX!
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