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Skullcandy, Inc. (SKUL) Message Board

  • onepoint272 onepoint272 Apr 30, 2012 9:02 PM Flag

    Monster Mash

    So did you hear the one about the WSJ coming out this morning with news that Coke was interested in buying out MNST? It goes from 65 to 85. Then near the end of day Coke came out and said they were not interested in buying MNST; just working with them on distribution or some such thing. The stock falls back to 65.

    There were 19 million shares traded on a stock that often trades under 1 million. So, now you have a bunch of trapped rats and some are big rats; there were many large blocks 50,000 shares plus on the way up. So, they're $20 down; on 50,000 shares that is $1M. Mostly, I pity the innocent shorts who got taken on this ride.

    But now you have a high-volume high that WILL get tested again. Think I'll wait for $46-$49 and be all over it on the long side.

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    • HAR also put in a doji/hammer reversal today also. Drop down to an intraday chart and you can see the story. Earnings came out after the Fryday close which beat by 8 cents. But the conference call wasn't until 10am this Moonday morning. So the stock gaps up at the open and then apparently they didn't like the conf call, or whatever doesn't matter, so down it went; doji/hammer candle printed on daily.

      So again the high volume doji will get tested. But sooner in this case. Most likely on May 8th, the ex-dividend date. If the test is on lower volume.....you know the routine....candy from a baby.

 
SKUL
8.28+0.33(+4.15%)Aug 20 4:00 PMEDT

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