CLGY
Godot,
This is an old, old cat, BTW.
I wouldn't play it now until a VERY convincing signal day. Until then, I'd strongly advise separating the issues: a) a news-oriented story to buy/sell on (humbug), and b) a supply/demand issue to sleaze a few ducats out of when no one's looking (the Katman's Guide to Investing).
First, a): An FDA issue? With news coming? Fuggedaboutit. The cat-fancier plays AFTER the news is out. Period
Then, b) There's a big short-held stock overhang, entered into before the plunge? That means you not only have a dead cat swinging in the breeze, you have have a dead cat getting poked with a stick.
Then you have a stock that's selling, what, 30k shares today? That would point to further erosion of price: They're holding a fire sale and no one's buying.
If you're comfortable playing the news, fine, but it's not a dead-cat bounce. Just go to the Yahoo boards if you want to hear from people "in the know." They know nuzzink, and if they did, Why would they share it? The people really in the know either bailed or sold short.
Sorry for ranting. I would say the only money to be made now is when the shorts cover, and that could easily be in the sub-$1 range.
Ivan |
