I wasn't the only one watching OPTT yesterday. It was at the top of my radar for a variety of reasons.
Low Float, great price zone, strong volume, one of the best day trading charts out there, a good news catalyst, and a 34% short float.
I gave this play a perfect score on my scoring sheet. Everything said that this thing would explode, and was likely to experience a strong short squeeze. Even the markets are on fire today and yet....
This thing took a cliff dive in the morning and didn't look back.
Now, my question to you is, DO YOU KNOW WHY THIS HAPPENED? If you do, please comment below because this is a very confusing problem.
Posted Apr 24, 17 4:32 PMbyBigBobby
Tickers
OPTT
In other words, they were selling into strength per the open also. Pre-market trading can be tricky. However, when you see huge volume coming in pre-market like $OPTT did this morning you can almost trade that time as a regular trading hours trade, if that makes sense,
because there is so much volume coming in. Either get out right before the open or hold about 25% of your remaining shares to give it a chance to run more. But, get out on the first sign of a moning failure like this did.
Probably becuase of all of the bag holders.. this tends to happen to stocks like OPTT, SPU, GLBS.. everytime these things have been spiking recently they just completely fail
Thank you all for the info, clarifies much
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