Within the last 2 days of trading, $GFOX declined a total of 40%, starting at a high of $1.70 yesterday and hitting a low of $1.01 today, before closing at $1.20 down -22%. I personally made a 29% gain on this play, see the trade details here.
In short, (pun intended) it is fairly safe to say that the $GFOX has been laid to rest. I noticed that ever since @FraudResearch published this article on Seeking Alpha, it’s as if the $GFOX market consumed some bad chicken feed. Read the article on SeekingAlpha if you wish to learn about the people behind this pennystock promotion campaign.
Here is the daily chart with approximately 4 months worth of trading data.
I actually captured a 5 minute video of live trading the day of March 3 2014 when $GFOX re-tested it’s 52wk high and fell 1 penny short of the $2.72 52wk high. The fact that $GFOX could not make a new 52wk high means it’s a perfect time to sell your long position and/or get short.
$GFOX was a very hard stock to find borrows (short shares) as noted by my broker.
Consider yourself lucky even if you managed to find 100 shares to sell short of this stock. As of Feb 28, 2014 there are 282,449 shares of $GFOX sold short. You can see the data and it’s history here: http://www.otcmarkets.com/stock/GFOX/short-sales
I was one of the lucky ones that found some shares to short and I made a 29% gain on the trade, closing my short position at $1.22 this morning. I wasn’t actually at my desk when my GFOX trade executed, which may have been a blessing, preventing me from closing out earlier. Although I did miss the panic selling, which is usually the place where one wants to cover their short position.
You too can learn how to do this by joining us in the Timothy Sykes TimAlerts chatroom, which is moderated by the two Tim Sykes millionaire students Kroyrunner and michaelgoode. Kroyrunner has been all over the media lately, with help from Tim Sykes. My Top Student’s Journey From $1,500 To $1 Million In 3 Years, 100% Pure Inspiration For Traders. Here is a link to Kroyrunner’s blog too!