The FB IPO is going to suck 16 BILLION out of the market. It was only going to suck 10 BIL out of the market but then they upped their share prices and decided to offer MORE shares.
Everybody is dumping other shares to get in.
I decided to pretty much dump. I should have listened to myself before and waited for some real technicals. The insider buy was nice and I think this company is great, but now is just not the right time to buy.
Volume down is not crippling, but it isn't light either Its about average. . . if it gains momo it could be really not pretty. We are in haling distance of the 52 week low. The stock of many a good company is getting absolutely SLAUGHTERED right now.
For example, ZIP, VELT, FTE. . .
Just look at what had happened to GRPN, SODA, etc. I do not want to ride this down to the bottom and wonder where it will be and wait for it to rise again.
This does appear to be a classic "short attack" or some form of manipulation, because there is no fundamental basis for it, especially after the insider who knows everything knowable about the fundamentals just invested $249,000 of his own money in an open market purchase. Nonetheless, sellers quickly overwhelmed the stock. All we know for sure is that they cannot possibly know anything negative about SKUL that Ron Ross does not also know. And he was a buyer at a price well above today's price.