larry,
i can't tell if it is short covering, until today i thought the moves were strickly momentum and day(soes bandits) moving the stock. what i mean is that the soes bandit start hitting the ask with 1000 share trades forcing the market makers short and it starts a dog chasing its tail cycle of upward movement. large blocks came in today which might be as vanni said, institutional. this is great if you own the stock. as i've said i read this incorrectly, and are watching put money go down the drain.(one thing i need to learn is to cut losses, instead i double up positions).
just beware, when the company speaks(earnings or something) if they dissapoint, and i have no knowledge that avid will, look out, it gets as ugly, quick.
As far as apcc goes, i made a list of about 90 high volitile optionable stocks. apcc was on that list and i just sold my puts today since i got the decline i anticipated. once it stayed at the moving average most of the day that was enough to convince me a bounce here is possible, but i think the trend may have changed and would look to buy puts again, my downside guess may be 18.5 to 19 area.
Also i guess techs may pull back a little from here, i'm a little defensive and options let me play the pull back, i think you've got to be nuts to short this market
just one mans opinion
sorry for being so longwinded |
