Even the most unsophisticated Novice retail short has been able to make money on this steaming pile of camel dung on the way down. You have seen the zig,... now it is time for the zag to the 20 day SMA ($39-$41) within the next week. Max Pain = $40.
It wouldnt be fair if the big boys didnt shake both longs and shorts all the way down to the low teens by the end of summer.
thanks for the reasonable post. too few of these nowadays. i've been turning off the coverage more and more due to the hyperinflated, over-opinionated reporting calling for dividend termination, takeover and bankruptcy. Agree, the stock was painfully and obviously oversold this week. Those novice traders who shorted this week will be burned by their own incompetence.
There are WAY more longs here than shorts. Most still think as soon as they contain the geyser that the stock will go back to $60. That will happen, but the stock will drop to teens or single digits before then.
I'm inclined to agree. The media is in a frenzy to bring every kook out of the woodwork to talk up the doom and gloom. When all is said and done Americans will have alienated a necessary ally with nothing to show for it. The outrage is out of all proportion in a population jerked around by the manipulations of a subversive media.