Friday I covered the last portion of my short position a little ahead of my target of 3.51 at 3.73. Why did I do this? I think something I heard a successful trader say about exiting positions into strength affected my thinking, causing me to close out before target was hit.
I find that the cash ($146M) vs valuation (55M) is rocket fuel for “the herd”. Also presenting itself as an “undiscovered gem” may contribute to a good ol’ pop.
They have good social media skills and their website is gorgeous. Being that this will be about as much DD as the masses ever do it can and most times is quite important for fueling said pop.
RSI in the...