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.