GFRE - Gulf Resources, a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced that the Company provided additional disclosure disputing certain allegations related to the reliability of its filings with the SEC created by Glaucus Research Group and distributed on Seeking Alpha on April 26, 2011.Looks like market reaction was positive on this news and 445% of average trading volume today is another strong evidence we are watching. At least shorts are scared and actively covering. Remember, tomorrow is Friday, typically not the best day for short sellers. On any positive news a smart short selling closes all trades, especially going into weekend. This should be enough for us to make some profit tomorrow.
As for past data and backtesting, we have not traded GFRE before.
Backtest Strategy: Pennystocks100 (5 min chart)
Period: Apr 28, 2010 - Apr 28, 2011
# Win: 0
# Loss: 0
Winners: 100%
Profit-Loss%: +0.0%
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