Tuesday, April 24, 2012

JEL Corp - No Distribution Detected

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 5.17PM, April 24, 2012  

JEL Corp close at 0.1 when the price was 0.089 and when I posted at 3:49PM. I saw many panic short covering which contributes to the higher price. Congrats to those who longed! Just remember guys, the high can go higher and don't be short sighted. That's the hallmark of a speculator.

Ronald K - Market Psychologist - The Big Speculator