Tuesday, 18 March 2014

PLUG - dying hysteria

Whilst the main market climbed, the hysteria continued to wane in the fuel cell stocks. Plug Power (PLUG) continued to weaken, closing -8.7% @ $5.94. Near term outlook is bearish, with next soft support (arguably) the 50 day MA, down in the $4.30s.

PLUG, daily


I just wanted to highlight this crazy stock again as a reminder of what happens when all the hysteria drys up.

Without the media attention, without the pumpers, PLUG doesn't merit much attention at all.

..and I should probably leave it at that.

*I've never traded PLUG, and have ZERO tolerance for the hysteria stocks...the ride up could be fun..but it almost always ends the same.

What happened to buying companies with a sound balance sheet, and that make a reliable profit?

Oh yeah..don't get me started on AMZN or TWTR !