I understand why people would sell (take profits, scared the stock will drop further), but every trade also has a buyer. Almost 2M shares have traded today. What is the logic of the people buying today? Can they really believe the bottom was at $24, $23, $22, $21 or below $20.
I am really interested in people's opinion because it seems like it is more likely the stock will either drop or level out vs go up, which is what people must be thinking who are on the other side of the people selling
formerbtrade- how long have you been tracking Click's stock? If you have been watching it as long as some of us, you would know why people are buying it in the 20-24 range..
It doesn't stay that far down for that long. Look at historical stock prices after earnings calls in the recent past.
I think the stock will drift lower for another couple of days, but obviously not as dramatically as what we saw today. The reason I'm a buyer this week is they are already at least halfway to $1 EPS this year and they said their earnings and revenue will continue to increase during each of the next 2 quarters. 2004 EPS was $0.54. The stock seems like a buy to me if you can withstand the short term drops.
Drift Lower for the next few days?
Wouldn't you say this puppy is just a tad oversold?
At 10:00 , 11:00 and 12:20 the stock rallied and then in a symmetrcial sell off it continued the downward trend.
The difference was that the first spike matched the volume in the spike system, the next ones got sloppier.
Now we need to break the 20.25 reistance to break the pattern followed by the traders or at least base here at 20.25.
those OTHER people " buying " are shorts covering after monster profit thx to one of the lowsiest CC I and everyone else have ever heard.
The shorts made money , they cover ( BUY ) and there you have it.
buying is from institutions and short covering the way this stock trades reeks of manipulation which is why I'll be increasing my position from 10k shares to 15k shares in the next week or so( depending on the trading action)
i'm 100% with you on manipulation. 1.98 million shares trade and everytime i put up a 1k sell at the bid with enough shares on the bid at that moment to cover my sale, stock drops 15 cents, i sell no shares, and i am then put up on the ask with about 6,000 other shares that werent there one second before. i have tried it on 4 different occasions today. i am basically not allowed to sell. i have traded this stock at least 500 times over the past year including after both earnings reports from the past two quarters and never have i had a problem like this.
The answer is... it is going to bounce, no 2 ways about it... ckcm is a great young "new technology" stock... the only question today is where the turnaround is??? or tomorrow... who can find the bottom... after it is found the morons that post here will claim they placed trades there and are going golfing or whatever... you cannot believe anything on these boards