James, Anyone: Price was down as much as 11% plus for about about a hour. Some buying just after the noon time rush hour pushed the price off its low. Last min. selling preasure of apx.15,000 shares dropped the price just a bit to close on the bid at 7 7/16.
Closed down 6.30%. Thats a profit!
Not a bad day at all. Covered the spread, Covered the commision and into a small profit after one day!
Now, what about Tuesday?
The buying preasure created by the business week story will all but be gone on Tuesday, and even more so on Wednsday.
Looks like the Business Week story helped the stock on Fridays big run up, only. The rather large UP price moves last Monday - Thursday might indicate the story was leaked before BW went to press.
All those who bought last week based on the BW story and help drive up the price of the stock, are now potiential SELLERS.
There is VERY LITTLE Short intrest, BEFORE TODAY, so there is not much worry of short covering( buying).
No news came out today, good or bad. So thats Neutral
The fundimentals are pretty bad for a $7.42 stock.
In short ( ha ha ) I see no reason to have many buyers at this price and a fairly large group of potiential sellers locking in their profits from , not just last week buyers , but from the MONTHS that the stock was under $6.00. As low as the low $5.00's
Good chance for them to sell and lock in their profits as they may not have a chance to sell at these prices for sometime.
One finial note. I checked, there has been NO insider buying of the stock.
Thats my take and good luck to all tommorow |
