On 18 May this blog warned that the big boys have rammed the stock up and distributed between 0.705 and 0.715. Today the stock plummeted to 0.42 and trading was halted. S&P downgrade on its credit rating and Sinochem was reported to be no longer pursuing investment in teh company. This bad news brought in many short seller but trading was abruptly halted in the late morning. Many of these naked shorts will be subjected to the 'Buying-In Market' sometime after the stock resume trading. If no had news comes out from the 'trading halt', short covering could give the stock a much needed boast.
All posts and charts are for educational and illustration purposes only