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Piper Jaffray Companies Message Board

  • inplay722 inplay722 Apr 22, 2010 11:51 PM Flag

    PJC possible rebound trade long

    PJC has had 2 days of high volume selling. After several waves down already, an unusually large number of sellers have chosen this time to commit themselves. The stock has 2 bottom tails the last 2 days. While this may continue lower, I’m looking for a possible retracement higher. Unless we get some follow on sellers, the shorts from Wednesday will be forced to cover. Break above 39.10 could start a move to at least $40 and possibly higher if it goes into grind mode.

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