Long
its sune over....
The famous hedge fund hotel are on fire!
Looking to pick up this one near the psychological level of $2, and a wide stop at the lows of July 2012 to play on the bounce back to $6.5.
Fundamentally there is a big risk of bankruptcy given the credit risk, 600 million cash remaining and debt interest at 15.4%. I will not be holding on for long, do keep your position size small too.
Keep checking back! I will be looking for signs of bottoming in the lower timeframe (1~4 hrs)
Looking to pick up this one near the psychological level of $2, and a wide stop at the lows of July 2012 to play on the bounce back to $6.5.
Fundamentally there is a big risk of bankruptcy given the credit risk, 600 million cash remaining and debt interest at 15.4%. I will not be holding on for long, do keep your position size small too.
Keep checking back! I will be looking for signs of bottoming in the lower timeframe (1~4 hrs)
Note
Another leg might develop sune, let's see if it stops at $3 for a double bottom. :)
Note
Watching 2.71 support, not a lot of selling interest so far .
Note
Entered a position here.
Entry: 2.90
Stop loss: 2.74
Take profit: 3.81 (0.236 retracement)
Note
Stop loss moved to $3.
$4.35 is possible, but I'd recommend taking some profits at 3.81.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.