That can be very bad, Maria. It can mean they are all dumping at once, which also means they will wait for the best shakeout point, come back in again with a huge basket of money--ours. That's also the huge brokerage houses thrown in there, as well as the fund managers.
They slowly horde the stock, and that's what "we" buy on the shark feeding frenzy's on the momentum greed moves, as they silently sell and steal away to wait. It is all very much anticipated, according to insiders who write books and blow whistles.
Right now the support is $2.50 and the resistance way, way down to about 2.90. CNBC pins it down on stock wizard, I haven't looked lately.
Has anyone actually called SGI or IR? There is very little news, but again, part of the game is stacking it up and then blasting out news day aafter day, causing another nice run up. If memory serves me, the name of this game is making money for those who already have tons of it. The rest of us were not deemed worthy to catch on, but we still continue to do so.
The up and down doesn't bother me, since the next earnings are actually not that far away. What bothers me is another company suddenly becoming the darling of those who buy SGI's technology. See any sign of that, other than CRAY moving up beyond SGI? All the speculation in the world is not as good as a couple of calls to the switchboard and the IR of any company, and catching the Market Dept. in a good and unaware mood is always excellent. I iwll do that tomorrow for sure. Right now I'm trying to figure out ASDX. |
