It really was a thing of beauty to watch PKT today. Consistent, determined, orderly selling the entire day. Watching the PPS consistently dip 1 cent there, 2 cents here, in such an orderly, predictable way was so captivating. The demoralization of longs has been completely achieved. Anything more than this is just insult to injury. But recognize and appreciate the work of art that was today's price action. Early on you thought it was a weak market day, but as the overall market just continued to recover throughout the day, PKT just kept going lower, completely unphased by anything to do with macros.
The most notable thing is that SPPI is down 32.8% as compared to PKT at 33.5% for the year. Did you enjoy gloating about the fusilev fiasco on the SPPI MB a couple of weeks ago PK? Karma is a wicked thing.
I saw similar action to this with OVTI in Oct 09 when the fundamentals were ignored and the shorts brought it down to 5 . Two years later it was selling at 30. The shorts may switch with a good report on PKT whenever that comes.