this one is for the gunslingers (nimble/aggressive traders) only. if PEIX breaks below the key 1.00 level once more (looks like the boyz took it under recently just to roast some shorts) then the next stop will most likely be bankruptcy court, or at the very least a de-listing from the nasdaq and new home (and penny stock price) on the pink-shits or bulletin board. best advice is to set a price alert for a move under 1.00 and forget about it for now since there’s no telling when or if it will break below (although i think it’s more a matter of when than if). of course, if you short the breakdown, just make sure to keep your position size commensurate with the huge potential volatility that comes with such a low priced stock. the typical 5% or so trailing stop just doesn’t work on these guys… all they do is virtually guarantee you a quick loss. as always, DYODD.
