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Blyth, Inc. Message Board

  • michaelpaschal03 michaelpaschal03 Sep 21, 2012 2:04 PM Flag

    Any technical idea of why it bottomed at $31.5 and then bounced 10 percent?

    It could have been a great trade.

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    • It dropped because of selling and short-selling following a negative report plus the impending sell-off of the only segment of this company that is not losing business. They'll get badly needed cash from the deal (one-time dividend to pre-ipo holders) but in the end it's a downward spiral.

      I bounced up because short sellers covered after make a fast profit.

      Sentiment: Strong Sell

      • 1 Reply to derekz1oo
      • I understand and know about those things you listed. I am asking why it hit $31.31 at 10
        .06am and at that point the short covering began, along with the new longs anticipating the short covering? Why at that moment and at that price? Also, this represented about a 24% drop. Is there anything on the chart you can see, or some sort of rule of thumb which made this the bottom of the drop, instead of say $31.00 even at 10.30am even? Also, Y! numbers say that the short % is only about 11%. Most of the time that is not enough to cause any sort of nice reversal, but that with just over 9 million in the float, a little pressure goes a long way. I am just asking as a daytrader, not as an investor. Opinions, please.

 
BTH
6.47+0.37(+6.07%)Jul 22 4:02 PMEDT

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