EAC trade for 6/7/2016

Posted By JM on Jun 7, 2016 | 0 comments

Microturd stock Erickson Incorporated ($EAC stock) today released one of the most uselsss press releases ever. They announced the award of 2 contracts worth $70M over 5 years = $15M / year, while already having annual revenues of $278M last year. The contracts were also awarded in February. The company stated an excuse why the new contracts were announced so late but really it's because they have no significant upcoming catalysts to report and were just trying to pump up their lagging stock price (on a straight downtrend for the entire year).

The long chasers doing what they do best, buying stock at the top and not fully comprehending the headlines, ran $EAC +236% up at its intraday peak. Note: the company purposely did not write the term of the contracts and the full value of the contracts in the same paragraph of the press release with intention trying to deceive novice traders in believing the contracts are a significant win for the company. We were not hesitant to short this flying pig and rode it down like a champ covering into weakness. All live trades are called out as they happen in the MookTrader stock chat room so that all members can watch and / or follow the trade.

Net Profit: $4,440


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