I too am disatisfied with the erratic way the stock has traded since the earnings report (which WAS good). Looking back from today, however, it seems to have made a double bottom on Mar 6 (compared to Feb 16), and since then the trend is upward (although slightly underperforming). I think, on the positive side, the market may be rejecting the downgrades on 3/3, 3/6, and 3/7 as possible short interests trying to hit the stock when it is trending down (for a kill shot). That's the way I see it anyway.
I am in this stock for the long run, however, and I'm trying to keep it in that perspective.
Just want to also add that in addition to making a possible double bottom on 3/6, it also seems to have retraced to a descending wedge pattern on that same day (which it broke out of 2/17 on the big spike up from the earnings report). This tends to further support the possibility that 3/6 was a firm bottom (hopefully).
Now they will have to try some more downgrades I suppose.
A quick look at the 90 day Yahoo Finance chart shows that BGS price is easily within its trading range since the first part of December....
At 9:45 AM a relatively large block of trading volume occurred. This is probably the reason for the morning price movement. Since 9:45 AM, BGS price has moved back closer to the close from yesterday. BGS daily trading volume is not that large so if one or a few traders need to get out at the same time, the stock price can move quickly.
Seems odd that you are asking about quick price moves within a trading range.....you seemed overly worried about normal BGS price action. Are you too levered to this stock ? Maybe you need to be in a lower beta stock, because getting concerned about this morning action is a sign to me that you don't have a handle on your investment.
Jackmaster, thanks for your insight. I'm actually a dividend investor who's in BGS for the long term, I hope. I'd read of some shorting, but was wondering whether to use a dip for adding to my position.