The huge move up on Monday put the stock way outside of the Bollinger bands. It closed today at the very top of the band and the 4 day moving average is catching up. I expect the stock to put in a floor at the current level ($18.60) and start to turn back up later this week and next. Once we can establish an uptrend I expect the stock to do very well since there will be lots of short covering.
I won't give you the satisfaction of posting the garbage article myself.
I will only ask:
How full is the ring with competition in the phone industry and for how many years has it been full? What happened to Motorola's grasp as a result?
What does individual Nokia's fate as a phone producer have to do with E-READERS????
And so are the program short covering orders as well as long buy orders.
It is just a matter of where and when..........
You cannot guess that nor predict the potential for news either.
You can only put yourself in the place of a short or long and equate that to your price point to pull the trigger.
You can't add $5 cash p.s. up front and another $5 cash committment p. s. to what was $11-$17 already with a $14 book v. and drag it to $13-$14. That's just a delusional short's dream coming out.
The old bottom has been raised on the short side and that's just a fact.
I'm counting on the $17 strike price being one significant point to cause new support. I'm counting on $10 per share in cash added to $11 as well as the last book value given of $14 to cause a softening of resistance.
No financial fundamentals nor any technicals exist that contain the addition of the cash infusion.
You can do math that arrives at a pps of either $30 or $42 per sh for BKS.
I am just waiting for buy triggers to be set off as we drift anywhere closer towards $17. The previous floor for the shorts is gone.
They are still at it chasing dimes I guess even at this price believe it or not.
Nice to get your input. Please keep in touch. This may be a long Row to hoe.