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Technology Stocks : Full Disclosure Trading
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To: Sam Citron who wrote (9682)1/18/2005 4:27:17 PM
From: The Ox  Read Replies (1) of 13403
 
OT
I was just reviewing the chart and historical prices. Today's volume was equal to the last 7 days of trading. Hard to tell if we saw stop losses being run or if there is news that's been leaked. The stock was trading in $1.30s and $1.40s as recently as Nov, so there is plenty of downside potential when looking strictly at the charts. Volume by price on both the last 3 + 6 month charts shows over 70% or 80% of the volume was recently generated above today's close, so we may be seeing the market makers putting pressure on the 'newbies' who recently got in the stock. Maybe they are trying to shake them out to replenish their coffers after selling the stock at much higher prices? Just some speculation on my part.

As you know if you've looked into the fundies, the refi is still up in the air (unless it's been leaked). They must refi by April or they will most likely be pushed into bankruptcy by their bond holders. Earnings are due at the end of this month or very early in Feb, so we should know more very soon.

If you look at the trading between Nov 23 and the 26th, the price range was $1.30 to $4.37. This was some pretty crazy action and today's trading looks like more of the same. I would expect the volatility to continue until the fundamental issues get cleared up, one way or another. Probably not a good stock to invest in but an excellent trader if you are on the right side of the action! If you were short entering today, you had plenty of opportunity to close out a 25% gain in one day! Not too shabby!

mh
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