My snapshot on this camera maker. Here’s what you need to know on GoPro (GPRO). (January 20, 2016)

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Lets look at GoPro ( NASDAQ:GPRO ) today. The market had; we’re at a point where I would call it a tradable bounce. The rubber band just got stretched so tight that finally we’re going to see some snapback here. GoPro ( NASDAQ:GPRO ), 9.90 was the low. I think this is really kind of a tradable low here, and that’s all I’m going to say for GoPro ( NASDAQ:GPRO ). I’ve been saying this for a long time, at the end of the day it’s a dang camera, that’s what this thing is. Give me a piece of Velcro and a new Apple iPhone and I’ve pretty much got the GoPro ( NASDAQ:GPRO ) Hero (maybe it’s the “iRo” as opposed to the Hero). I just have never bought into this whole, “Oh, it’s a media company.” No it’s not. It’s a camera company, PERIOD! But with that said, in my view, it’s one of the biggest frauds ever perpetuated on Wall Street. To bring a camera company public, it’s ALWAYS astounded me. Now we’re down to basically $10.00, I’m not making a market call on this, not at all. But I will tell you this, you look at the weekly chart, IT looks pretty bad. You look at the daily chart, you get MORE information.

This is my suggestion, don’t look for 17.00 anytime soon, but I think you can look for 12.00. Now it somebody decides to buy the company, then fine. This is like a Marissa Mayer purchase from Yahoo, she’ll probably pay like a trillion dollars for them. But then all bets are off if the company gets acquired. But generally speaking, when a stock is down like this, with the market the way it is, I think this is a stock that you can at least look at for maybe a 10 percent trade. If it starts to fill this gap, great! But just know, there’s a lot of selling pressure on this. The reason I’m really looking at this is, the company reports earnings on February 3rd. There’s no way that you can look at this chart and say, “Well, investors are bullish. Investors are optimistic about GoPro.” They’re not. That’s why the stock hit a historical low. Since the history of mankind, this is the lowest price that GoPro ( NASDAQ:GPRO ) has ever been. So this is a very, very bearish, bearish pessimistic market on GoPro ( NASDAQ:GPRO ).

What I’m suggesting is, use this 9.90 as a reference for your lows here, for the bottom, and look to take the stock for maybe a point or two. Other than that I can’t tell you, my crystal ball is cloudy after that. But for the next day or two, I would suggest you want to be long stock, maybe going all the way into February earning. But if the stock falls below 9.90, everything that I just said, disregard it, you don’t want to be in this stock.

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