I hear ya, kazz--but I went to bed last night telling myself that I would console myself about the drop in the morning by picking up a stash of shares in the upper $3s when the panic selling hit. If you had told me after the SCLN mgt announcement disavowing the buyout on Thurs afternoon that this stock would trade over 1 million shares today and still manage to hug $4.20 as tight as your grandma does at Christmas I would have laughed my arse off. I've been staring at the chart for today in total disbelief--my order for $3.85 never even got close to being filled.
Today felt very manipulated (in favor of the longs for a change!)....but it tells me the big buyers know something 'cause they just keep vacuuming up the shares. With the Russell exclusion a foregone conclusion, you'd think that no one in their right mind would touch these shares with a 10 foot pole--unless they were fairly certain something really positive is coming out shortly. Hey, I had steeled myself for a share price drop of up to $1.00 today that just didn't happen...that tells me in no uncertain terms that the buying going on today was NOT day/momentum traders--it was buyers who believe they have nothing to fear about picking up a lot of shares in the $4s!
What could happen next week? Here's a SWAG (silly wild a$$ guess): We'll tread water on Mon and Tues, maybe creeping up to the $4.40s with volume in the 500-800k range. Then, Wed afternoon or Thurs there will be some sort of official positive news release mid-week that will produce another 60-80 cent day that pops us over $5--closing out the week above $5 but below $6.