The way this is doing I hope IOC does not announce any more deals like this one !! FOR Pete's Sake, what the heck goes on here? News that is GOOD really sucks and sends this down. How does that happen without any manipulation?
No, wrong. The next news should be a complete set of facts the insiders have, upon which they added shares. If that happens, it opens north of 150. Every day they delay that information is a day the index funds apply their magic software...
Imagine all the longs, so certain of what is about to unfold, shot their wad and bought stock? Now, they have no dry powder with which to add. And imagine there really are no sellers?
The machines simply buy puts and buy puts and buy puts and like magic, it melts away....selling short into the bid. So the market is no longer made of buyers and sellers, just put buyers who can set the price by their game playing.
I want to know how they were able to hold tight to the news release? I think the stock is actually oversold, but I also know in my heart, they will again strike tomorrow and it will melt to 77.