I don't know about your rumour, but if you look at today's intraday action, it looks like somebody has decided that they want this stock. The volume is quite high today, and the first big round of buying came in to take it up from the day's low - bold or stupid... There were a few other mass purchases that came in on dips and finally enough to push it into positive territory for the day. Couldl be a positive sign?
You are right ... todays action in SEV looks like accumulation. The technical guys who calculate on balance volume (OBV) like stocks that fall on low volume and rise on big volume. That has been SEV's pattern over the past few weeks.
As I have noted before, the action seems to be typical of a shakedown. While at the same time, the options are trading in very strange ways (deep-in-the-money and large size). Somebody is unloading their stock but not their commitment to owning SEV? I'm not sure what to make of it, but I believe the stories about DLJ referred to in an earlier message. They are there to "promote" this stock and are accumulating. Yes I know - we keep hearing the same thing while the stock dives, but going down to the breakeven level (for bondholders) of $11 today seems too easy and CORRUPT! We will see if enough towels have been thrown in. This stock is being manipulated VERY WELL - mark my words.
I suppose comet would think I'm stupid but I increased my holdings in SEV early this morning even though it was still heading south,turned out to be good move.Called SEV today but office was very busy,had the feeling something was going on,maybe just alot of worried shareholers trying to get some reassurance,seems they may have gotten a little looking at todays volume and uptick.HEY comet I could smell Bre-x a mile away,did you?