Howdy there stock market enthusiast!
I was watching #marketsorcery RealTime this morning when ol’ JP pulled up the chart on GOGO.
Looking at the chart I knew instantly this was a total degenerate trade with little to no chance of working, so naturally, I was immediately looking to trade this chart!
After some deliberation and quick analysis, I bought GOGO Aug $4 Calls at .35
I kid, of course. There is more to the story here, beyond just a riverboat gambling shoot from the hip trader taking a total degenerate trade.
This stock has been beaten, throttled, kicked down a sewer pipe, and then beaten again…
Also, and mainly, the stock has a very high percentage of the float sold short, meaning there are greedy short sellers that may potentially get squeezed out on the slightest whiff of positive news or upward momentum in the stock.
Be very clear, this is a high risk trade with very little chance of working, but if it does, I believe it has the potential be very explosive.
We shall see.
See ya on the flipside!