We hit 10 on Wed. befroe this pull back. With this BLOW OUT EARNINGS that are going to be announced how can anyone say the stock is going back down. Only SHORTS can say that in hope that they dont get killed.
I got really discusted on Fri. with the pull back it came out of no where. I really thought we were going back to 10. So Mon. who knows where we will be, but I will again buy extra shares for the day to hopefully get back what I lost on Fri. I am still 16K long, and 10 gets me even.
As several people have said and I agree with them, that something is going on. I expect and HOPE for some kind of announcement that sends this stock soaring, although it could be just a wet dream on my part.
If it werent for this buy back at this rediculous price of only 10 I think we would already be at 11, but that screwed us.
Again a surprising announcement after this tender and we get going up where we should be.
Your response embodies the essence of the factors at work on Monday and Tuesday. Lots of HOPE and EXPECTATION for some new announcement when earnings are announced.
And, although you did not realize it, you said why the earnings will not cause the stock to go up. Just as you know they will be "blow out", so does everyone else in the market. Therefore, the effect of the earnings is already in the stock price at the $9.64 where it closed.
The MMs usually cause a contrary action days before earnings. So, by way of example, There was buying and positive anticipation prior to last quarter earnings. The shorts (MMs) killed that rally the very next day with heavy shorting off the top.
Now, they've gone and shorted it down (friday) and will probably try to shake out the weak hands and those that follow patterns. I expect contrarian action (buying) on Tuesday afternoon perhaps, but its going up this time around.