mooter, a close above the $5.25/$5.5 should negate the down trend of the last month, the volume today was pretty good but no barn burner. I see no news, so I presume "some people" know something, or the selling has exhausted itself. I am still not particularly bullish, yet, but to a question someone asked me on another thread (whether to short this rally), I said "no". Of course Mooter, these technical indicators have a good 40% wrong signals in them, but right now (and if $5.25 to $5.5 holds on a closing basis in the next few days), the attitude to VLNC should be positive. There is one thing that I would like to add, the floorless is still there, and in other situations, I have seen many times short term runs like this one (I mentioned that before on this thread) which were not just used by the floorless to short more, but actually induced by them (through partial covering of their existing short and then letting the MO players do the rest). So, until conversion has actually taken place (or John's PO's are in), you should be on your toes.
Zeev |
