Personally, I think RACK could trade much higher, but I'm wondering what some of the long time lurkers/posters think of this rapid move to the mid-14's. Is this finally it or should I take some more $$$ off the table?
I have to admit that I'm a bit skittish considering all the times I've watched RACK head to the high 13's only to crash back to that magical $12.50 "support" level (and below)! Those 18,107 $12.50 options make me a little nervous as well. I've seen this stock whipsaw on low volume so many times it makes my head spin.
What is the sentiment out there - have the shorts finally lost control of this one? Has the day finally come or was today's lower volume a sign that the buy interest is drying up at these levels? I didn't see as many large trades go through today compared to the last few trading days. Of course, if everyone is bullish and we only have one basher (farttrade) then maybe that isn't a good sign either - thoughts?
We will get a better idea of what the professionals are doing when we look at new Reg SHO data for RACK. This type of manipulative, whipsaw behavior is exactly what the SEC had in mind when it mandated as of 1.1.2005 the public distribution of this previously jealously guarded Wall Street data.