Pallisard: The only answer seems to be the weak market and negative sentiment. I'm inclined to think that other shoulder won't form, and we'll drop straight to the 6 area...
Yup. VLNC seems to be doing what a fair number of other equities are doing. Following the market. It's like the market has become a somewhat becalmed ocean after a storm, the surface of which is characterized by broad, deep, swells. I'm no boater but experiences from youthful surfing days tells me the surface of such an ocean, while you're riding it, can send you broadly up and broadly down. Going nowhere fast while sitting astride a board, or standing on a boat.
Think the market instead of ocean, and equities all a'bobbin' instead of boats and surfers, and I'm sure you get the picture. Right now we're on the downward side of the current "swell," instigated by the latest market angst over this new season of probable negative earnings news.
So VLNC, as one of those proverbial corks, is following apace. This despite all the positive underpinnings released here of late. Sooooo......if you're trading it, or anything else, yah gotta beome one with that surfing philosophy. Watch the "surface" for the broad upside swells to ride the surge and if you like to short then watch for the broad tops to ride it back down.
How's that for a TA discussion of the obvious? Heh! Anyway, I don't expect VLNC to recover much today, as L2 is showing one BTRD (who're they, anyway?), sitting at $7.7 on the sell side with a 20K share block. Given VLNC's volume I see that as a potent bottle cap on any afternoon surge. But if the market angst intensify's it's probable VLNC's neck will be broken, which means a return to the $6's isn't out of the question.
'Course, I could be wrong...we'll just have to wait and see... Unfortunately, or fortunately, I've set my out positions (mentioned earlier), and will be out of the office for the afternoon. Hence my strategy where VLNC is concerned will be on "auto-pilot." Somebody keep track and tell me what BTRD does.....
Regards!
John~ |
