Paul, just from observation of other floorless situations, to generate additional fire power, the bandits will from time to time cover a little portion of their short in the market, creating a small rally, inn which, at the top, the volume increases sufficiently (like it did here) to allow them reshorting and pressing it down to new lows. I know not if that is what CC is doing, but it seems they have done that in other floorless situations before. If we do not hold on a closing basis the $5.25, I'll have to take the position that this rally was a fake out, probably generated by the bandits. It is a little strange, however, that this rally was not the result of impending or actual news, typically, the bandits use such pending news to achieve their nefarious goals.
Zeev |
