Monday, May 21, 2012
GWBU Starting To Show Signs Of Breaking Down
GWBU experienced a sharp 30% plunge lower today. As I said last week I thought the stock would collapse as least 30-40%. I was right about the collapse but still think a bounce-less collapse will occur at some point. The stock has posted a recovery since tumbling over 30% and is down only 10%. Buying interest remains strong but I think today's action is the writing on the walls for the longs in this stock. The next time this stock tumbles 30-40% again and likely more, it won't be bouncing back up.