volume = index rebalancing action .... added to the Russell 3000 and Global index .... but 10+M sh traded of a 90M sh float and it drops by only ~6% ! ... buyers were lined up for this scheduled addition and got a good deal... traded the same volume on the recent drop on lackluster earnings early May .... seems very promising for longs
aside from this Russell addition, there is little doubt .. charts don't act like this one unless something is up ... constant buying pressure even after raunchy earnings ... imminent buyout?? ... new product advantage ?? .. don't know but seems likely ..
long 18k sh
I wouldn't read too much into the volume.. It doesn't take that many shares to bring it down a measly 15 cents. It took much less volume to bring it way down in may.. probably shifting shares around.. Its happened before and Nasdaq shows some large blocks of shares were cancelled minutes later after they were placed..
From technical standpoint(boring but important) we were on zero line for moving average.Fridays move didn't help with that and until we get higher then zero we won't see any real gains as before. Plus Oclaro has been silent since their last Er and has been given a hold rating by the analysts.. So Its Oclaro's move at this point heading into next ER.
Is this possibly the effect of the annual rebalancing of the Russell 2000 index -- which happened at the close? If OCLR was moved out, then lots of index funds would have to dump. Just a guess.
The bigger question is who is buying all these shares after hours?
The price is holding up amazingly well for so much volume on a Friday afternoon.
Well then the shorts are spot on with this pig.
This stock should always be shorted when it goes up....because we all know come round earnings time they always seem to poop the bed.
Sentiment: Strong Sell
There has been a pattern of short attacks in small cap stocks during the last two weeks with a big volume sell at the end of the day on Friday.
Last week after the attack on a number of stocks I was wondering why OCLR was ignored but today I got my answer.
Torpedoed just before the close on a Friday afternoon. What, someone forgot to put in the institutional sell order and just remembered at the end of the day? Or some insider who just got wind of something? Or maybe someone who just shorted the **** out of it.
I can't say, but frankly just hate this potential manipulation. I believe OCLR is going well in it's plan. I also believe it is takeover bait now for another player. And, it is making all the right moves to succeed all by itself. If it gets any lower I'm adding to my position! IMHO.
Probably large fund getting out before the end of quarter - won't have to report holding after the drop last month...