Is that the selling didn't start until almost 11 EST? If the report was truly negative, you would have thought the selling would have started taking place right away, and not delayed to kind of see what was going to happen? Looks to me like manipulation down, only in response to the fact that it didn't go up. Shorts are now likely in control for a bit, but I really don't think there's all that much room to work with.
Some one was waiting for the price going up before selling. it was supposed that the price would have gone up upon good news. This was not happening and thus he started to unload. I have watched several companies showing this kind of pattern. The real buyers started to crowd in when the sellers were out.
I think the window is about a week max, let the news settle in. We should be back in the .80s by the end of next week if not sooner.
Over all the picture for Jones is better than it was. This company is a turnaround play, expectations got a little ahead of reality, as they always do. So in Q3 when we are running up to a $1, everyone is excited, unless they just knock it out of the park we will get this same pullback. IMHO The odds that they hit it out of the park Q3 vs. a strike out???? Most people went with the Home Run bet this time.
But steady improvement is what I am hoping for. So far so good.
Wow, someone who actually uses their brain. Except it's not the shorts who are in control. MM's probably sold some inventory to start the cascade. Remember most traders are sheeple and selling begets selling. It's a positive that the stock finally made it to the 50 day after 6 months. It was hard not to buy more, because a .67 cent buy will be up 50%in the next few weeks. Overall a constructive pullback.