When this stock trades up it rountinely does it on pretty big volume. Last week we saw it move up 10-15 cents a couple of days on volume exceeding the moving average. However, when it trades down its does so on volume that is less than half the average.... 350,000 shares at noon? really? 2 weeks ago 350K blocks were being bought by single fund managers.
Despite a couple of slightly down days that is the story that needs to be focused on. When it is down it is trading down by about a half dozen people. When it trades up, it does so strongly, aggressively and in large bites.
That has to say something about the confidence of the market for this puppy.
I simply put a limit order in at the price I want, in this case $6, and wait to see what happens. At todays price, 6.66, it could easily drop to 6, even for just a few trades, on really bad market days and we are sure to have one or two in the near future. I used to do that with MTRX because it had a small float and I would get my shares because a seller used a market order and the system automatically took the price down to my price because I was the next order to be filled. As soon as the trade occured the price shot right back up. It doesn't always work that way but it is great when it works. Since I do not think ENTR is going to run away from us, I am giving it a try.
I think he did sell, but I recall something about wanting to get back in it later in the year. I think the consensus is that ENTR will have great end of year numbers; I am hoping the closing of the Trident deal will push us up higher in the near term. I doubt you will see a 15-20 percent delcine - certainly now below today's price - unless there is a large market correction.
My sense of it is this is still undervalued with many catalysts working in its favor; it will take only a couple of major announcements and in view of its Trident deal and MOCA2.0 deployment later in the year it may suddenly do a lot better in the near term than many expect. So I am staying put; if there is a near-term uptrend I will be in it; if not, I am going to be in with the rally later in the year.
The much smaller short interest this year makes this a lot less likely to drop the way it did last year. In fact since its drop to low $3's in August, it has been either uptrending in positive marketa or trading in a channel in negative markets - nothing like last year. It may still be a good trading stock for some, and this high $6 range is a very strong support for those looking for swing trades; so unless the market changes, I doubt you will see the $5's you are waiting for. The farther we get in the year, the less likely it will be that the big short will leave this one alone.
Dagio...what happened to Euclid? Did he sell out? I still watch for a trading opportunity. I am looking for a 15-20% pullback oon light to normal volume and then I will reload for a trade. Close to 6 or under will be my target to buy. I am not saying it will go there but that is where I would have to get in to make the trade worth my while.
then I shall tone down my response.... 4-6% swings not uncommon at all and 10% swings have been known to happen often enough to keep you always on edge and in a constant state of "pucker"