I'd like to think so...but I think not...there is just too much momentum...coupled with the fact that there are also likely 65-70-million still short shares at tonight's close: Wed. 4/11/12...
I could see the shares go down and maybe test $625 area...briefly....but then there will be strong waves of short-covering going on for the next several days and weeks...I think all the way up towards $7.50-$7.75 area.....backing and filling at points along the way...if you see the shares dip below $6.30 I'd rate that as a 'gift-buy' !
Act accordingly and scoop...cause brother...that's gonna be it...otherwise shares may move in the $6.40's to $6/60's a kind of high level consolidation...before mounting an attacking the high $690's and then over $7.00 towards $7.15....then higher shortly after that---
....End of Story...if she's gonna pull back it's gonna be probably early to mid tomorrow...but firming up towards the close and fairly strong again and making new highs by this Friday's close...there you have it...my crystal ball!
Well all I can say is I am one happy long buying lots of 2014 $7 calls over the last few weeks.
I kind of think some people are looking at too small of a time period. It isn't like this stock has traded between $5-$7 over the last few years or anything. This stock has been much higher. SVU was being priced like it was going under in the next year or so. On the conference call and with the reported numbers this is clearly not the case. So why in the world would people expect it to trade forever in the $5's. That was pre-earnings and guidance. Based on the industry numbers this is a $8-$10 stock no problem. If you have reached the point where the P/E is getting in the 4's and the dividend yield has a 6 in front of it then it better darn well be going under or it isn't staying there long. Sorry shorts, you had you day and you pummled SVU all the way down to near $5 per share. Problem was the company kept making money, paying down debt and has lots of free cash flow and those that were shorting at $5 just got sucker punched in the face. Even if this gets back up to $8 or a bit higher that is hardly a lofty level. Unless something bad happens then I don't see the stock sitting in the sixes, let alone the fives. Good luck everybody and a big hooray for a change for a few days for the longs.