My last entry into LRC was at 0.007. So I am currently sitting on over 100% profit on this baby. And you call this being pumped & dumped .... yeah right!
You are also badly mistaken if you think that all price spikes and pullbacks are P&D plays. This kind of price action can be caused by range of factors, with P&D being only one. Newbies tend to think no further, and they blame P&D because of their tendency to feel victimised by the market.
From my perspective, all spikes & pullbacks (including P&D plays) are over when price falls below the low of the initial "pump" bar. Based on the technical analysis concept of True Range, LRC's pump low is at 0.012. So my stop is at 0.11. As long as LRC trades above this level, my take on this is that buyers have the upper hand, not the "dumpers".
Also, as I currently see it, there is significant support at 0.015, and I would be out of the position if we CLOSE below this level. Obviously these stops will move as price bars unfold.
It's best to keep an open mind lepanic. If we don't, we can't learn anything.
Cheers
ST
LRC Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
