I don’t know if you have been paying attention to the daily business news but BCON (Beacon Power Corp.) which currently trades on the Nasdaq is about to be booted to the good ole pinkshits. They have declared bankruptcy and they apparently owe taxpayers a whole lotta money. What was supposed to be an epic renewable energy company has turned into an otherwise epic fail!
Here’s the news that you may have missed on what was once a stock that was trading upwards of $47 back in 2005, and trading in the .30-.40 ranges recently.
Now I don’t know about you, but if my roachy senses are correct, they media blowout about another tax payer funded bailed out company going under has had people panic selling their shares like monkeys, and of course the bears are having a blast shorting this to shit. This is all just my opinion, but when I see a chart like this, I see massive panic and of course a potential BOUNCE OPPORTUNITY! We don’t call ourselves bottom feeders proudly for nothing!
Speaking of opportunities….
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As we saw with a different, “Shit the bed.” play last week, when a stock tankjobs this much it is hard to get an exact bottom but today’s low of the day at .0889 looks like a good place to set a support level since it is bouncing a little from there. Resistance lies ahead at .105. and with other bottom feeders of Wall St. looking to trade the volatility I would put BCON up on the ole watchlist immediately!
Senorita “BCON show us the BACON!” Roachita