If the government shuts down tomorrow....that doesn't affect how many headphones Skullcandy can sell. The sell off today is panic in the markets and not a reflection of the valuation of the business. This means once the panic is over the share price should return back to a valuation of the business, A.K.A a potential arbitrage opportunity.
The stock hasn't been hit that hard today and IMO, SKUL doesn't follow market sentiment. In fact, it's big unexpected moves up and down have usually been opposite of the broader markets. This is a very small cap stock and there doesn't take much to move it. Low volume day to the downside along with touching resistance levels make it a great day to accumulate some shares... IMO
I'm going to have to disagree with you strongly. My thesis was the stock traded down because of a fear over the gov't. This however does not affect the valuation of the business. Today the fears were eased, stock market rebounded and SKUL had a big day today to recover from the over selling yesterday and return to its valuation. I can elaborate more if you like but I don't put any merit on investing on a technical analysis.