Hmmmmmm, the DOW now down ~207, and the NAZ down ~145. And from what I can see, it looks like that "under-cut the bid on every up tick using modest selling volume" tactic is back in force. At least for now. Given all the good news out of MCOM today this COULD be the end-game gambit being exercised under the cover of general market angst.
It's a tactic easy to employ, as buying desire has been hamstrung, allowing for even a mild version of the above mentioned tactic to carry some force. Indeed, 1x1 under-cut on upticks are now carrying MCOM down into the low $13's, where I stand ready to nibble again, with another nibble set for below $13, just in case general momentum carries it this far. If this IS end-game being intiated look for large blocks to carry though on the buy side later today.
Be that as it may, after having done like it has done periodically through this slide, that is, plateauing and even moving upwards for a brief time, it appears to now be back nailed to its decline line, so whatever decision you make, don't go too far out on that limb. Bottom line? All bets continue to be extremely qualified ones, given general market conditions.
John~ |
