I mentioned before that placing stop loss orders with Skul is equivalent to leaving your keys in the car for a car thief. I've noticed at some point every day Skul takes a quick move down only to recover a short time later. These guys can see your SLO's in advance and they swoop down and steal them in a blink leaving you wondering how you could lose your shares when Skul closes up .50 cent. SLO's are not a good strategy with a high beta stock like Skul. My opinion.
Well, that's the risk of holdin thru the correction, eh?
On the other hand, op-ex is Fryday and there is a 17.50 strike that is pretty close to even on calls and puts. I suppose we could see a repeat of last month when it settled in on $15.00 only this time on $17.50.
But I gotta tell ya the general market looks bad to me. ABC-downs set up all over the place.
That wasn't shorts [pounding] at the close. I think it was Turtle liquidating his long position; he's pretty smart ;-)
It got pounded at the close because there wasn't enough volume to keep it above 17.48. There were sellers up there but nobody was in the store to buy from them. So, the price had to go lower to find buyers. Simple common sense of auctions.
To say it'll go to 23 before 15 is just plain crazy talk. For that to happen it would have buck the general market; not likely; it is broken. Maybe for awhile, but not all the way to $23, through the masses of IPO buyers waiting to sell. And besides $15 is a normal retracement to the bottom channel line of a nice up-trending channel.
The advantage of the retail investors is the ability to get in and out; something the funds can't do. Why shouldn't the small guys sell it here and buy back at a low-volume test of $15? It takes away risk and it greatly increases return. The funds will keep it from crashing; don't worry.