The only thing I could find was MGM made the list of stocks that have a recent history of a sell-off prior to earnings report.
What we want to happen today is a repeat of yesterday but closing on the high-end of the day's range. That would set us up for another major move.
What we don't want to happen, is a close at the lower end of the range. Especially not in the "'Red". We would then have a signal of a possible "Reversal" of the up-trend and not just a consolidation or "Pull Back" within the up-trend. It is an "if'y" Candle Stick pattern.
We have now cleaned out the over-bought signals which is good.
3 things i saw yesterday.
1/ A #$%$ option theory went out again to scare off people . Note : This is a second time right after MGM made a major move up.
2/ Someone wrote lie about insider selling.
3/ One idiot came out of the rat hole and flooding this MGM message board.
I did take the opportunity to add another 5K at $13.26 and another 5K at $13.09
Now that there is no up-tick rule, it's easier for the specialists to walk stocks down to shake out the weak holders. I was buying every 10-cents down. Most folks (including last weekend's Barrons who said it was just about internet poker ) don't understand the NJ legislation and how BIG the market is for on-line gambling casino games so the big boys are trying to buy shares cheap before the public realizes whats coming!