I will agree that I don't think the manipulation is over. The last two earnings reports were not that good. Beats because of tax breaks. Big short interest will keep the stock from going down very fast. Look at NFLX. Tanked to the 170's a couple of times, then back to the 240's. Now they got an upgrade from CITI analyst that compared it to OPEN. Stay patient, but be nimble. This thing will be so oversold tomorrow, it will probably get a bounce.
The big fund managers have definitely been selling the past week. They still have almost two more months to unload this stock before they have to post their quarterly holdings. Technically there is some support at $85 but more than likely it is on the way to the 200MA and $75 for the short term.
One more MAJOR thing is when a company promotes a CFO they usually are transitioning to a cost cutting mode. Longs congrulations on a great run but the worse thing one can do is be emotional about a stock.
if you think big managers are not going to sell then who sold today in regualr hours? more than 2MM shares were traded. They all will sell now that everyone knows this is not producing growth results that everyone hoped for.
If you are still long, then you might want to sell at the market open because you will not see that price for the rest of the day.
watch and learn tomorrow
you have a 20% decline from the top -
they hit their earnings
yes - they have had a great run up
but there is no tangible institutional selling
shorts should be happy to cover here
<< I were them I would nook my profits now before they get crushed by the end of the week >>
Think about it... what's the near term catalyst for a strong share price recovery?
You MIGHT get a little short covering but near term good news seems unlikely. New CEO will have to prove himself - that news is neutral at best and probably percieved as negative rather than positive.
May to September generally isn't a strong period for the overall market.
OPEN has had an incredible run. Even after the beating it took today it's still in the $90's - richly valued considering it's sales, earnings and near term growth prospects.
Again, what's the catalyst for a near term recovery to the recent highs this stock has seen? It's due for a pullback - and the pullback could be as sharp and strong as the run up.
can't wait to hear his BS abotu how he told you to get out.
always has an excuse, always flip-flops, always pats himself on the back, always change his story so that he is right either way.
he is a veeeeeeeeeerly bad man.
veeeeeeeeeeeeeeeerly bad man.