Just relax. See where it closes. No need to panic. It's expected that there would be some profit taking on earnings day. I also expect that some shorts are also trying to run stops, attack the stock on an expected profit-taking day, and thereby try and do some technical damage to the charts.
We've all seen these slamdowns before, it's just the way this stock plays. Expect a Scott Hamann hit piece in a few days to try and give the slamdown some more legs. Then, once that dies down, the stock will start moving back up again. Also, remember Wall Street is #$%$ about guns, so they don't realize that decreasing NICS background checks during summer months is seasonal and that NICS background checks start to increase in October, November, December (i.e., for next earnings report) because of hunting season. If RGR made 1.44 EPS with slow summer months with a $5 million charge on the Prescott facility, let's see what they can do in Q4 2013.
Here we go. At about 11:20 A.M., the daily chart is showing that the price action jumped from -3% to -2.4% and just moved inside the Ichimoku cloud. It looks like it may now convert into an uptrend of buying the dip.
Yep. Yawn, just the after sterling earnings and all good news normal slam down. RGR will be up to the mid 70's in a couple days imho. Another item to watch is the TSA union is pushing hard to arm all those 'highly regarded' airport thugs after the LAX incident last week. That's 45k more pistols and who knows how many more other pieces they will stock up on if (when) congress approves