If you have followed my tweets today, you have seen my obvious bullish sentiments of RENN. I hate to break it to those who read my post from yesterday about me preparing to fire my VXX bull gun, but I changed my mind. I pulled a complete reversal on sentiment. This is obvious by the massive amount of monies headed into social media. As I stated in an article a few weekends back, you Cant Fight Where The Money Is Going. Just take a look at the volume on RENN, its mind-blowing. Looking back to last summer, the last time enthusiasm was really behind this stock, it doubled in a week. Below is that graph.
With the recent revisited enthusiasm, I am putting my money to work. I believe we are far from being done with this movement. Tech is hot and social media is on fire. I believe that the stock is not even overextended and I have not even heard any bearish sentiments on it. If you have them I am more than willing to hear them, but it looks to me like your bearish sentiments will be crushed. Supposedly the short percentage is high, I am in and waiting to see how that plays out for the bulls on social media.
Shoutout to Ragin’ Cajun at ibankcoin.com for making the call last night
