Friday, May 11, 2012
OPMG - A Stock To Watch Next Week?
Stock don't get down to all-time lows because people are buying up the stock. It quite the contrary, usually heavy selling is to blame. Many times the selling never stops and the stock falls to $.0001, reverse splits, and starts selling all over again. Buying stocks that have fallen dramatically is a risky business, but it also can be a highly profitable one. This year alone we have seen many 500%, 1000% or more returns on stocks that fell out of favor.
I think OPMG has the potential to be one of those stocks. The 50 day moving average rests at $.004, an over 300% move from today's close. While I think that's possible given the decline we saw in OPMG, lets first see if the stock gets its legs. Selling looks to have slowed, and a sign of an impending bounce would be heavy buying volume. We have yet to see that yet, but if and when it comes I think OPMG will post a nice gain.