Wednesday, April 25, 2012

JEL Corp - Chasing?

No more chasing of JEL Corp. Yesterday I warned of a profit taking for today. So if you are trying to chase, make sure you enter a correct price, else just leave it alone.

As JEL Corp is sky rocketing to new highs, I have not seen any distribution in this stock yet. There are minor profits taking but no serious damage yet. To short this counter is dangerous, tomorrow might be the day we see more profit taking for the price to tank. However with that being said, the BBs have not yet shorted this stock, so in my opinion there is still some room to go. I had received calls and seen many people shorting it, they all told me it's already very high, I was thinking, can't the high go higher?

Update 10.54AM, April 25, 2012   

I made a wrong call as stated above. I am not chasing, there are still better stocks imo.

Ronald K - Market Psychologist - The Big Speculator