I have made more money timing short coverings than any other short term trading tactic. The volumn generated the last two days wasn't from longs selling and buying back at lower levels. Its from large short positions which will kill each other trying to cover thier positions once they realize they've slandered all the value out of this stock they can. I bought today at 3:55 when it was obvious they couldn't push it much lower and it was rebounding on CNBC reports. Sure Tornado, Cendant and others have had accounting problems but nine out of ten stocks you shorts hype end up being manipulation and eventually recover. I'm looking for a five dollar pop and I'm gone to the next one.
If I could stick it out today when it hit 17 tomorrow will be a breeze.. JUST HANG TUFF EVERYONE..... The children will go away and find another playground.. There is sooooo much more upside then downside from here. I am not even going to look at these boards until 4 p.m. tomorrow. Because all they will try to do is wear you down and break your confidence. In fact I do not even think I will look at the price of the stock till 4 p.m. By Thursday/Friday this will just all be a bad memory IMHO.. GOOD LUCK TO ALL LONGS. NO ONE IS GETTING MY SHARES TOMORROW.
I am a day trader and 90% of my trades are on movement rsi and pure tech. markers. I have been shorting following the momentum. Momentum has dried up, just to all the people shorting that has not covered, "your gonners". Last 30 min of trading today, I broke a major rule that is to keep a stock over night. I've bought 4,500 shares in 4 block average 18 1/2 and I'm kicking myself for not buying more. I've just read the last 10Q and listened to the conference call and called a couple trading guys on the floor that just came home. My opinion only but this stock will trade higher on the open and will keep going up. No hoo ra, just business.