Jumbo recently got IPO, however studying the chart, it seemed that the outlook is not so rosy. First day after IPO, the stock suffered sellers as I believe some others are cashing out. It then went into some weak rebound where buyers thought price is cheap and went in to long to only realized that price dropped further down south with even more sellers. At certain point, the stock rebounded at the bottom where buyers thought it's safe to buy to now realized that there will be more downside to come. Stay out of this counter
Besides LIVE Trading, for those who are coming on Saturday, please bring any stocks you have in your portfolio and I will give you an outlook of the future trend of the stock. Please also bring a pen and paper as I am revealing my secrets.
Ronald K - Market Psychologist - A Stock Market Opportunist
