GTAT update 10/06/2014: total destruction.

My last update on GTAT of a month ago and all those prior already told that targets were met, and that profits were to be taken. But what happened today NOBODY could have foreseen. Total destruction. Reduced to a penny stock. A 22,500% reduction in price in little over a month. Like FORD, this is why you have to take profits when target areas are met and never to get greedy. This was a blood bath. I cautioned my members everyday over the past month to not catch a falling knife and last week I had some hopes it was trying to from a base at around $10, which is around the 62% retrace off the entire move from it’s previous ATL to recent ATH, as it could have been a possible wave 2 low. That surely didn’t happen. Given how recent stocks are being sold off, I must say that this doesn’t feel like a bull market anymore… Also, I wonder why trading was not halted for GTAT. This is not normal. Next target is the 2.618x extension of a at 30cents….Bird seeds in other words…

GTAT update 10062014

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s