Based on yesterday's trading volume, less than 1M traded underwater and about 2M shares were traded at a much high constant level, except last few seconds with small amount of shares. Today, it started at lows with very small amount of shares, then kept ended with more than 1.43% gain. When I checked the following after hour trades I would expect a continuation of the uptrend as long as the overall market is not ugly. Some of you may not agree, but this is only my thought.
Have a nice weekend to all.
Recent Trades - Last 10 of 11003
Time ET Ex Price Change Volume
16:06:56 Z 78.71 1.10 100
16:06:47 Z 78.69 1.08 100
16:06:28 Z 78.72 1.11 261
16:06:28 Z 78.72 1.11 34,840
16:06:22 Z 78.72 1.11 64,448
15:59:58 Z 78.69 1.08 400
15:59:57 Z 78.65 1.04 183
15:59:52 Z 78.63 1.02 100
15:59:49 Z 78.70 1.09 188
15:59:49 Z 78.70 1.09 100
It was amazing for CITI to issue a downgrade when it reached a 10 year low after a consecutive shorting activities. I wonder why they did not publish the downgrade research report when it was 9, 8, 7, and 6s. The only answer is that they started short position and dreamed a much lower price before or after releasing the financial report, and so they had the report ready for it. However, they saw the reverse started and so the report was issued. Clearly they though they are smarter than others and they believed the upcoming financial report will provide big gain for their short position, but the reality is that everyone knows the incoming financial report will be ugly and that is why the company with a book value over $16 was heavily shorted and treated around $6. Now a much respectful new management team is formed and they will have a totally realistic approach and I believe most reasonable investors will give them some time to implement their plan.
People may not like the decision to keep their hardware business, but I believe they made best decision to downside the product instead of completely close this division because only in such way, they can avoid or reduce the huge cost of liability.
I do not think I should write more about CITI research report. However, it is my strong belief that the recent reversal buying activities are probably attributed to the insiders or the people who have recently reviewed the Blackberry's book information during the for-sale process. If this is true, I do not think there will be any hope for a much lower than the current one in a year.
Above is just my 2 cents, no offense please. Wish all longs and shorties will make much, but too greedy will always leads to the opposite.