Objective satisfied.. Same here at this point. I think what we've witnessed is shortie covering. I can't get out of my head the ~500K shares that ziggied through around 12pm, pushing the bid to $13. To me this felt like shortie running the end game, which sets up covering like hell. Hence...an hour or so later, VAROOM, launch. Uhhh...this plus the final release of any pressure associated with those looking to accumulate this equity at "appropriate" levels. ;-)
Anyway, then comes another small wave of selling, most probably traders profiting, shortie maybe selling a weee bit, and then a brief upside surge, then down again with maybe a final end of session surge. I figure WSTL will close above $16, maybe even at or near the high for the day, which makes it damn near a volume reversal experience. If so this sets up tomorrow nicely.
Now....about those COMS rumors....
John~ |
