Replies to post #15109 on Sierra Resource Group Inc. (fka SIRG)

[CopperRocks]

Citrati's point, while heavily biased, is that most SIRG longs hold millions of shares, so getting out if they want to won't be easy.

80 thousand shares at $.0065 is only $520. If someone wanted to get rid of 5 million shares they would likely push the s/p down to $.003.

However, Citrati falsely assumes that anybody is currently looking to sell their 3 million or more shares. The vast majority, if not all, the SIRG shareholders with more than even 1 million shares are here until we either get to production, or it becomes perfectly clear we will never get there.

To be honest, we are many months away from knowing either way, and so nobody is worried about selling if the s/p tanks. In fact, you would likely see many longs buying more if that happens.

[Citrati]

If you go to stockcharts.com and look at the recent chart action (the long candles) you can see the lower trading range. Then look at a site or Lvl 2 where you get up/down volume and together that suggests a strong likelihood of .003 area for stock selling. If you put in the indicators at Stockcharts the patterns are obviously negative which further supports the potential .003 area. The fact that the stock has been trading below the the bb centerline and 50day for several days is another pointer toward that .003 area. For now, if you wanted to call the 200 day support that is acceptable .004. I chose the .003 because there have been trades as low as .0015 recently and I split the difference taking into account the very negative chart.