Stock Bull, LML, et.al.: I'm not aware of any reason for that end of day drop. It could be so much "window" dressing by institutions. If this IS the case, then I'd expect to see it back up next week. There has been an impressive amount of insider selling in this quarter though.....albeit a poster over on Yahoo seemed to think all this selling in the first quarter may be driven by NEXT years AMT tax considerations. I'd be real interested in any tax pro's opinion on this matter(hint, hint).
Anyway, I was watching it reeeal close in the last 15 minutes of the trading day yesterday, and it was holding nicely just above $40. Indeed, it had started to rise and was just under $42 when WHAM, somebody put the hammer down on it. It went from just under $42 to about $38 in less than two minutes. And if you look at the data you'll see that ~250K shares went across in the final hour, with a goodly percentage of them rabbiting through in the final minutes.
It smelled like somebody trying to get in under a wire.
I got so excited at the drop(I was also playing VLNC when it broke above $22) that I jumped in at ~$39, just figuring it'd close above $40 and be set for next week. Silly me; as it went on to drop from there. So it goes. I still expect it to recover, but we'll have to wait and see.
LML: I'll add some to your optical query....but not right now...I'm heading out for a first of the season ride on me Harley. More later.
John~ |
