Great post Rich. Are you responsible for today?
Wonder where the BottomShorters and FUD dispensers are today? At least I congratulated them on their well-planned, move down. At least they could come by and tell us that they covered at 4 LOL.
How about that fool that kept telling me it was closing under 4? He hit the exact bottom.
Anyway, knowing that the market can turn on a dime, I don't wish to pound my chest. We have a lot further to go.
Shorts are still in control. I assume there is some covering today, but there's still plenty of games and bashing going on elsewhere. The shorts, who are crying about spoofing, use it often on MCOM. They have played every manipulation game with MCOM, including the relatively new use of the Thompson site. Although I think these tactics are violative of SEC code and regs thereunder, they have done a wonderful job. Working together and dispensing information intended to mislead creates many issues, which I believe, will be reviewed in due course. Admittedly, management has not acted aggressively to defend the corporate currency.
Anyway, imagine where we would be trading if the market were not crashing today. I urge longs to put stock in cash only accounts and don't fall for buying MCOM on margin unless you are capable of meeting any calls. MCOM, with the short interst of 65%, is just too volatile to play over one's head.
Although I don't recommend this to anyone else, I've been able to play with great results, the $5 calls, but that play, for me, is over for this month. |
