Dont be suckered in, this is only a head fake and a weak one at that.
This movement has program/computer trading written all over it. A few days pulling back always brings the suckers in to catch the falling knife.
Unemployment continues to rise (some people are saying "yeah but not as fast",)once your in a hole you need to dig out, not further down. Credit Card defaults are the new crisis coupled with commercial real estate hits left and right. No, defaults for you? How about credit card limit decreasees, cramping the style of the consumer which makes up 70% of the economy.
What coming up? Inflation that will put a squeeze on banks like they cant believe. No room for the Fed, already at 0%. Administration doing very anti-business things and a world wide crappy attitude.
At 3$ this stock was a buy because it does have value and potential, not at $10
I didnt say it was a buy at $10, what are you reading?
Its NOT a buy at 10 or 9 or 8 or 7, maybe 6 and below because at that point the value of th company overrides all the outside forces affecting the company regardless.
If it goes to 6 and negative news is pilling on, hold out, it will go lower and allow for a great price to purchase. JUST LIKE IT DID BEFORE. You should have seen this board at 7 and below. People were jumping from buildings, others were quietly buyine :)