Another market rally, another day of PKT in the red
Another missed opportunity day. Amazing. Really does wonders for the morale when one continues to lose money as the market continues going higher. The reason the shorts in this stock is because it has no long support and is easy to control. They are here because they are here. And why shouldn't they be here? They have made boat loads of $$$ in one of the biggest bull markets in memory. Talk about getting ahead of the market! If they can make 40% shorting something, in the strongest year for the S&P since the 1990s, now that is a major success.
Forget about "stealth buys" and Blackrock. It is irrelevant. We continue to lose money. BTW, Blackrock is a large fund that owns thousands of stocks. They aren't micro managing their PKT holding, it is just another lumped in holding with thousands of others. So Blackrock is not giving PKT any special treatment or consideration. When smaller investment groups who do more DD on each stock they buy start getting in, then maybe I will believe. But that ain't happening, shorts can push this down too easily. If only this has any real actual support. But it doesn't, so we are screwed.
Consolidate gains? What gains are you talking about? We are less than .50 cents off a 52 wk low. I don't know what world you live in, but there are no gains. Are you referring to the small dead cat bounce bone they threw us? Um...kind of been through this twice already. After earnings it got back up into the $13s only to fall to $10.75. Then it rebounded back up near $12 ,only to fall down to $10.12. So now it goes to $11 from there, and you think everything is honky doory? No, it will probably see new lows next week.
Consolidate gains. Now that is some funny stuff.
And as for that 5.8% day, I knew it was bonus cause it was on ridiculously small volume. It was meaningless. A smoke screen before it gets taken back to new lows.