The first wave of selling in CCM finally happened today. I was watching this counter closely and finally saw distribution of large blocks around the 0.29-0.28 price range, so I just followed that action and short sell. I managed to take some profits and kept some to ride the remaining of the trend until I see the big interest short cover/buying back aggressively and that's where I will cover with them.
As I mentioned earlier, this is the first sign of selling. In the next few trading sessions, there could be more distribution to come where prices could go higher to distribute more or there isn't anymore distribution where massive selling would send prices down south. Whatever it is, we shall watch each day's progression and ameliorate risk where possible.
Ronald K
