My program trading alarms went off this week on WBSN. Look at the consecutive lower highs and lower lows on the pps this week. TA points to continued downtrend. Volatility confirms the battles between buyers and sellers, with sellers gaining the upper hand.
Wednesday's impressive bounce back was only squashed by more selling yesterday and this morning. Perhaps a major seller(s) was simply unloading in a strategic manner. Either way, this doesn't bode well for the coming weeks.
This company reminds me of IWOV in its hey-day and more recently, PRGN, which boasts over 90% of the top Fortune firms as clients.
Funds are under pressure to rid their portfolios of equities with extreme high valuations. Come up short on sales or lower your guidance and it's an easy 50% spanking when trading resumes.
I wouldn't be surprised if this quarter comes up short, considering all the doom and gloom comments from executives at the Bear Stearns Tech Conference in New York this week.
Anyone who has been managed stellar employees can tell you that you don't motivate workers by playing big bad brother.