I was curious to analyze GMG since so many people are punting on it and it created a frenzy on the exchange which caught my attention. In my opinion, GMG is a super syndicated stock. I will reveal why i said it is syndicated the next time, but i have my reasons for it. If you can study the operation of how the syndicates are playing this game, you are almost certainly to make profit each time by following their action.
In my opinion, the syndicates had taken almost 90% of their profit yesterday and the next 10% near today's high. The trading action today is bearish. Not only did the syndicates took profits, they started short selling. In the short term, this stock is coming down. There is no way it could go higher without any evidence of strong buying or accumulation. In the longer term, if i see somewhere along the line where the selling pressure has started to decrease, i will then follow the same syndicate activity for longing.
Ronald K
