I have come to the belief the shorts will all out assault this stock right before earnings, retesting the recent lows, in order to paint a low price from which earnings can rally off.
I freed up some cash on my end, plan to extend my Long exposure just before earnings. We will see if I am correct. I plan on buying in at $6.46 before earnings and reducing exposure at $7.79 shortly thereafter. Let's see if my trades execute (has to hit roughly those price targets) and make money!
Anyone else want to share this quarter's ER gameplan?
Well I caved in abit and moved in with half of my additional Buy orders when the price was at $6.61. After a continued dip to $6.50 it has since bounced back. The rest of my order is still sitting unexecuted down at $6.45. Thought the shorts would fight harder to help paint the post earnings stock price, suspect they are holding back reserve firepower to crush an earnings pop. We will find out within the next 2 hours. Best of luck to all, catch you on the flip side!
Also, expect at least one more "hit piece" masquerading as financial journalism. I think it will be a good report as I expect to hear more about Tech Data and hopefully HZO. 25 cents is my estimate, but I don't know if it will effect the stock or not. Selling it below $8 won't help either.