i never short a stock and 65 yrs ols and have never in my life, esp this one as i love it but feel needs some time until it got another upgrade today. but still not up too much of a move considering upgrade
Funny thing is the ONLY way he truly could have made any short term trade is if he bought right on the BOTTOM (around $5.04 on the ask) and sold around $5.08-$5.09 end of day. Possible, but very unlikely in my opinion. The stock truly headed down the entire day with only minor "bump ups" of 3-4 cents here and there (very, very few of those as I followed the stock the entire day). Was not a day to trade the stock on the LONG SIDE....if he said he "shorted it" that was where the money was ALL DAY LONG.....so I don't believe this.
As for technicals......I don't see how long term or intermediate term could be bearish. Just look at the chart....this stock has been in an uptrend since late last year so it is in a "bullish pattern" at least long term and intermediate and I believe short term we are about to turn shortly as we have sold off 5 straight days after the run up to the upper end of the channel...but who knows....I will let RICKAROOSKI figure that out.....I just feel after listening to the Barclays and Stephens conferences that they are truly "in the sweet spot" and unless global growth declines (unlikely in my opinion for this market) they should do very well. Margin expansion is in the cards as well.....higher revenues plus margin expansion gives you two ways to win !!! Like the odds at around $5.00....hey, when this stock missed earnings and the outlook wasn't as bright (about a year ago) it only hit $3.60ish at the lows so at $5.00 it seems like the downside is minimal ($4.50ish or so) and the upside is probably $7-$9 over the next 6-9 months so $2-$4 up and $.50 down or even a $1 you have to like the risk/reward....especially since we gave back about 65 cents this week from last weeks high....look at the high volume day (over 13 million shares) so somebody was buying last week and my feeling is there is definitely some "smart money" accumulating this stock.....lets see what next week brings.....this stock turns on a DIME...next week could be GOOD !!