Hey Irish. Welcome...I think...lol. When trading, set a target to buy and stagger so you are able to average down. Set an 'exit' as well. Some who have been in since the triple zero's may have left, but most did not get in at those levels, so they are either leaving with a loss, holding (and perhaps panicking) or averaging down. I wish White Cobra well, but these fluctuations were not made for him...not made for many, but he is relatively new and chased the stock up while selling on the pullbacks. That's a losing equation any day of the week.
Speaking of week, keep in mind that it was just 4 trading days ago that this was at a 52-week high. Expecting huge gains (or taking huge losses) within such a tight timeframe is tantamount to gambling. Pennies are not the place for that as you can lose your shirt. Volume continues to look good. It is not dwindling despite the fluctuations. With a 50% retrace from highs on very good daily volume, this (IMO) is a great entry point.
A couple weeks back, one of the longs (no longer here) 'dumped' a sizable amount of shares after this ran to .0012. The stock actually hit .0004 before making new highs and running to the 20's....it pulled back and ran into the 30's.Full disclosure, I'm still here and I got in when it was trading in the triple-zeros, so some of us did not jump ship and have seen these moves before.
Lastly, the above is not specific to you, but I'm sure there are many like White Cobra ready to take a loss as well as many who have been watching this and remain at the sidelines.
Good luck to you (and al others) regardless of what decision you end up making.
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