RE: Bottom in - push higher next week23 Jul 2021 13:39
Thanks for the response guys. For what it is worth this my take on PA, which is mostly rambling and hearsay, haha.
I think the summer months or rather end of May, June, and July are normally low volume months. Current value and forward pricing goes out the window. The limited supply and demand which would determine the price evaporates and fear, boredom and greed take over.
When the suns out and there are more comments than trades you know you are in this zone. The market makers switch from skimming the spread to fleecing the vulnerable and wait for the volume to return. The first whiff of buying or demand outstripping supply and they are quick to mark it up and we all go back to wishing we had taken advantage earlier.
In my experience that tends to happen at the start of August and there are currently lots of opportunities across the markets for the savvy and patient investor.
The DVRG price had been trading sideways for awhile. It tested the high a few times and drifted down to test the low. It feels like it has found a floor and started to stabilize before what I hope is an increase in volume and another test of the high. I could be wrong but I think the downside is limited at this point.
Although, I have always liked and kept my eye DVRG. I have not spent a long time looking over the ins and outs which is unusual for me. So why am I happy to take a starter position without DD?
Well because the company and concepts are impressive and I can see they have money and news due. But I bought because Gerard has impressed me. He is one of those guys that you just know are going to be successful. He exploits opportunities, he puts his soul into his companies and he has bounds of confidence. If he was in your group of friends and he said I going to start a company doing X, who is in? Everyone in the group would be in.
For that reason, I can buy in, feel confident, go out and enjoy the sun, and then look at where we are.