And not only that but it's being bought in AHs as well... Looks like 370 will be taken out tomorrow if the market cooperates.
Just like options traders predicted it would.
I've been long for 3 years now, bought @ $3, under $2, @ $2.30, again @ $3 and finally today another 1000 @ $5.40... But to answer your question... YES! I hope shorts & profit-takers take this lower by the close so I can add another 1000 easily.
I don't see a 200 point move either--that would indicate a 19% move based on today's close and coming pretty close to testing its 200DMA @ 842.
However, I also think given the recent volatility a move of 70-80 points (7.5%) is understating it as well.
If PCLN misses or gives poor guidance it could easily drop 100 points to test support at the 100DMA of 955.
Anyhow, with only one more day left...I guess, we'll just have to wait and see what happens.
GL to all.
Yes of course, I apologize. How could I ever forget?
Anyhow here are the facts concerning SPRD...
On June 28, 2011 Muddy Waters attacks Spreadtrum Communications (SPRD) through the use of an “Open Letter to SPRD’s Chairman”. Prior to the attack SPRD was trading at $12.95 but on the day of the attack it registered an intraday drop of 33.66% before recovering to close down only 3.54%. Since then however, the stock is up 143.70% and presently trades at around $30 today. Furthermore, back on May of this year (2013), SPRD received an acquisition offer from Tsinghua Unigroup for $27.50 which wasn’t bad especially when Carson Block claimed the company was a sham and therefore worthless in his opinion.
5.) On May 10, 2013 Muddy Waters attacks Vipshop Holdings (VIPS) again through the use of another one of their now infamous “Strong Sell” report. The stock initially drops (5.9%) or 2 points to $31.77 but quickly recovers after Muddy Waters concerns are immediately dismissed by the market. It trades presently at $66.66, or up 109.8% following the attack.
6.) On July 17, 2013 Muddy Waters attacks American Tower (AMT), which in a way signaled a sort of departure from their previous strategy by attacking a US company this time. However, once again Muddy Waters concerns were immediately dismissed by the market. In fact, AMT has risen another 9.4% since the attack.
7.) And finally this brings us to NQ Mobile (NQ), which as we all know was attacked by Muddy Waters earlier this week (Oct. 24, 2013) when their scathing “Strong Sell” report was released calling the company a “fraud” among other things. The stock initially sold off (47.2%) from $22.88 to $12.09 the following day after trading resumed, but has since then managed to recover a substantial portion of that lose during the last few days as company management has sought to vigorously refute the allegations from Carson Block & Muddy Waters.
So, I ask you fellow investors given Carson Block’s and Muddy Waters sordid and dismal record over the last two years, can we really take this man and his firm seriously? Six FAILURES out of the last seven attacks seem like a pretty dismal record to me; wouldn’t you all agree?
And that fellow longs is that his latest attacks, which amount no less than 7 out 13 since June of 2010—and still counting, were a complete and utter FAILURE!
So, let’s review them…
1.) On Nov. 21, 2011 Muddy Waters attacks Focus Media Holdings (FMCN) which prior to that was trading for $25.50 by publishing their “Strong Sell” report. However, MW’s allegations and other concerns were never proven and the stock presently trades at $27.50, which is up 185.30% off the original closing low of $15.43 set the day following the attack.
2.) On Mar. 10, 2010 Muddy Waters attacks Fushi Copperweld (FSIN) which prior to that was trading for $5.79 through the use of a slide deck presentation. However once again MW’s allegations and other concerns were never proven and the stock presently trades at $9.50, which is up 55.70% following the attack. In fact, FSIN actually went up 5.46% to close at $6.10 the day after MW’s attack leaving one to incur that maybe the slide deck was a dud.
3.) On July 18, 2012 Muddy Waters attacks New Oriental & Technology Group which at that time was trading for $14.62 by publishing their “Strong Sell” report. The stock drop (35.0%) to $9.50, but once again none of MW’s allegations were never substantiated and therefore eventually dismissed by the market. The stock now trades at $27.50, or up 185.30% off the original closing low of $9.50, which was set the day after the attack.
4.) On Nov. 10, 2013 Muddy Waters attacks Olam International (OLAM SP) by publishing another one of their now infamous “Strong Sell” report. However, Muddy Waters concerns were mostly dismissed by the market and the stock’s price was hardly affected.