FYI: I sold my position in GNTA this morning for a $1500 profit after holding it for about a week. Today’s oil prices have me concerned about the short term future of the market, and I will be travelling next week and not able to watch the stock all day.
Therefore, I decided to err to the side of caution and take my profits. However, if the market holds up, any hint of good news on this stock could send it charging north of $2. Now that I have sold, that is the most likely scenario. It’s an unwritten rule in the markets.
On the plus side, another 61.8% retracement that yielded a nice profit.
Today’s oil prices must mean well for another stock you follow … HDY. No? What a story that is turning out to be. $100 barrel of oil one way. Any discovery will be mind-boggling to the stock price.
Editor: Why are you posting this comment here? Why not post it at the HDY blog, which was just updated yesterday.