On Friday April the 29th, Lithium Exploration Group, Inc. (OTCBB: LEXG) traded nearly 24M shares, ending the session down 65%. PSH stuck to the short selling strategy recommended on Thursday. Short term gains fed our day-trading; our long-term short strategy has now paid off. See our recommendation to short sell LEXG stock here and here.
Adding to our short position near the open on Friday, we sold LEXG stock at $10.40 and covered our short position by the end of the day for a rough but agreeable 160% return. How’s that for a day’s work?
While we believe further downside is imminent, we’re now aware of two risks that exist in LEXG stock: the possibility of a halt by the SEC and/or a squeeze to open trading next week (on Monday).
So here’s to those who triumphed in this trade (congratulations) and to those that did not – join us (see the newsletter subscription at right side) and we’ll be more than happy to triumph with you on future trades.