First of all the stock is not in a downtrend on a daily chart. I have said this before light volume in this stock really allows market makers to have their way.Taking out 1.63 will trigger some stops , hence the 1.58 quickly.It really is a buying opportunity if you can hold it for three to six months or more.Speculative as it may be, I think the risk/ reward on this stock is so in favor of going long.Just my opinion..
Earnings report is 3 weeks away...give it a week or so and then we'll start going up. I'm considering buying blocks in 1/5 increments. That way if we spike up quickly I won't be chasing and as it goes down over the next week or so I can load up more than I would have....
I'm actually liking this decline now.
And for those who say this isn't good, I would point to the low float of 79 million (I believe, or it is close), and HUGE short interest. Also, you throw in daytraders and profit takers and the whole thing results in what you have seen the past week.
It will take several quarters of huge increases in profit growth and subscribers to get rid of the shorts. Until then, I say buy on the dumps (these are to big to be called dips, IMHO) and sell on the peaks.