...if in fact that was what it was. Maybe I'm calling it too soon but the sharp move down is over and there just doesn't seem to be enough sellers to shake out at these prices. They are holding out for higher prices and this is another way of saying bulls are regaining charge.
Maybe the last weak hand who bought cluelessly on a web site reccomendation has now left the arena. Once a bottom is firmly "in" on this short term move, we'll need to see a day where it closes up and near the top of it's daily range. Then we can get to the mid term trading range top. At some point we squeeze shorts , if they actually exist here-- till it hurts. Earnings will be a terrible thing for them. IMO.
The good thing is every fool that shorts becomes a potential buyer when they cover. Any long can potentially sell but all shorts HAVE to buy. The giant sucking sound you hear on earnings day will have to do with that compulsory divestiture.IMO.The result will be an even more fervent stock price reaction to any perceived good news.