What a coinsidence! $36.50 held as support. The big guys will be buying in force off of this level.
Here is my take on the price fluctuations.
1 .Most if not almost the entire long float is controlled by large mutual funds.
2 .The rest of the long float is controlled by hedge funds like Tiger who are always trading around their position in order to make money every day and lower their average cost.
3. 15 million shares of the float is controlled by the shorts who need these dips to steadily cover.
4 .The retail investor has no control whatsoever on the weekly price, so if your long you have to be patient and stay the path or trade along with the whipsaw action. $36.50 to $41 seems to be the new range.
5. I listened to yesterday's conference call and the big take away for me was that next July, August, September will be the launch of a new transition fall boot line. This is important because the line will capture the back to school shopper and the adult fashion shopper much earlier in the year before the traditional cold season.
More Manipulation between 5.10 and 5.14 in a very narrow range. It sets up another 10% move. If we can break 5.25 short term upside resistance is taken out.
Does anybody think that Roche could come for Sequenom now that Illumina is off the table. Or Could Illumina come after Sequenom to fend off Roche?
I believe this stock needs to find the 50 day for support and base around it before it moves higher. Take the emotion out and let the technicals tell you when to buy.
Check out the preview for Americas Next Great Restaurant. The contestants will be running a Chipotle during the lunch hour on the show.