not surprisingly wbmd is a non performer on a big rally day,up 20 cents ao 17450 shares first hr.we arange bound til earnings,which im betting will cause selling.range bound means between 46-48
Im guessing more selling,heres why,over a long weekend people are unwiling to buy.The clue is happening today how the street views the end of Q.they are buying anything tech and interet related except the selling is still on this stock and its on big volume 1.1 mil as of 2 mins ago.Im actually going to see what things look like next week,particularty if 42 is taken out tommorow.
today thepre mkt is up,wbmds worst down days seem to fall on big up days for the general mkt,the selling seems to be attempted under the cover of a rally.i expet anorther down day and the last tech resistance should be snapped.
Why don't you just take it for what it is:
Some funds had to or wanted to sell for whatever reason, and the stock went down.
It went down so far that some smarties in other funds who didn't want to look stupid sold for window dressing because of the end of the quarter.
Right - so where is it going to go from here?
Up, of course!
As soon as the window dressing selling is over, this stock is going to go up again.
And you can bet your little fanny on that one!
over a million shares traded and the volume chart shows very large blocks of selling.the technical side of me says maybe a selling climax,but the other side says with no reason for buying and very negative insider selling sentiment this has more to go.i still believe we see under 40 before we see 50 again,in fact it might be years before 50 is seen if we get to 40.basic rule volume preceeds price.volume is aying more downside.
If this stock doesnt ove to the upside today and the mkt rallys yet again,im not dumping my 45 puts.The stock is either weak nd may actually consolidate here waiing for an earnings report that based on the Needham conf call will offer little to jack his back to where it was.If there is a surprise good formy stock.istill see the path of least resistanc as down and down quite a bit.We are ony about 5 percent from breaking the year low.