When you sent me an E-mail I had already gone on to other trading situations. However, I decided to call a couple of my friends. Here is what they told me.....
1. There is no real seller in this stock. There is a couple of short sellers...one of them is a bufoon who is so obvious he is scary. He shorts and shorts and shorts on ECN's and then tries to cover all of it on TRAC. Yesterday my friends did not let him cover even one share...they always bought ahead of him. Today they're hoping he shows again...they're going to play him big time.
2. Proof of this matter.....MAGS on the Tel Aviv Exch. is trading...you waiting for this....28.50. That's right...it is actually up today and completely ignored yesterdays fall. This bring in arbitrage players who will have to buy the open. Also, shows that the real money has ignored yesterday's drop.
3. One of my friends who is Israeli says that one of the reasons it has not fallen in TA...i sbecause there is a rumor that there will be a pre-earnings anouncement for a significant contract on Monday which will be further discussed at the conf. call on Wed. So no one in Israel wants to sell before Monday.
Anyway I hope that helps, OFC, I intend on looking for this short seller myself and together with my friends I'm going to take this guy for a ride. Trust me there is enough money here to finish this guy's game. Update you later on how it's working....ciao!
Good post and glad to have the info passed along. the MSN info that institutions significantly increased their positions yesterday gives us some comfort that we may have a floor before the earnings report next week.
One thing... TA gave back almost all its gains in the last few minutes of trading. Still green, but small.
The ball was at the top of the hill he just kept pushing it. I watched his punk ass all day was getting angry about it, wishing I had enough money to counter him, but I dont. We were due a correction to maybe 27.50 again because of TASR's weakness but this was WAY overdone.