If we don't get a bounce here pretty quick, all those new longs will get real nervous, particularly daytraders. We could have another leg down to the 10 area before the close.
Their customers are probably demanding they support the company to try and keep their losses to a minimum. An honest analyst would say 'sell' and put your money in a better investment.
I agree with you that this doesn't make sense. But since my earlier post, it's moved up to 13.70+. This last hour is the real test. Will short covering continue to push us up into the close, or profit taking cause us to plunge.
Been watching Level II all day. Someone keeps buying on any dip to 13.50 area. Been tempted to take profits today but now I'm wondering if this move will continue for a while.
I'm looking at the 5 year chart and it looks to me like the first major support level is around 7.95 and that was way back in mid 2012. Would like to hear some opinions what price this will finally find support.
If the CFO has been cooking the books, somebody's gonna want to go back a few years and check the numbers. I wouldn't be buying until the dust settles.
Going private is a concept I've never heard mentioned before. It worked well with Dell among other companies. It would have to be a fund with very deep pockets, I would think. That would sure put a shock in those large short positions!