Look, what we have here is a couple things at work:
1. CNEX was shorted hard @ .03 back in February. That is one level of shorts that have not been covered.
2. CNEX was shorted again hard @ .013 back in May. This is the first level of shorting that will be forced to cover in the short term (on our way up to .013).
3. If the shareholders of CNEX do not sell, and we can break the .013 resistance, the first level of shorts will be forced to start covering, and we could easily see this break .02 in a hurry.
4. This all has to do with short covering...not the pending news! The shorts do not want to get caught covering at higher prices...especially if the geo results are good.
All that to say this, and this is just my opinion...we could see some serious action before the PR. Where it goes? Who knows???
Oh, wait a minute...Beijing Bill might know! ;)
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