Get a clue, Chip - there weren't any bears to scare. The short interest is close to nil.
I suppose you could call the (presumably) mutual-fund player(s) who bailed at the last minute at fire-sale prices bears, though. But that doesn't mean that they are short.
Also, we should be kind to them - given market conditions the past few days, they might have gotten a standing order to "shoot before earnings". So the decision to sell those huge blocks may not have had anything to do specifically with CREAF. Unfortunately - if that was the case - both the market and CREAF turned on them before they could change that policy.
Yes, I was bearish myself, based on the chart, right up to the brink, where I bought around 21. The earnings and subsequent gap with today's strong close have negated previous chart indications. Today's close suggests a gap up in the morning.
Incidently, some here may be amused at my current portfolio - CREAF (in at 21 1/8), QNTM (back in at 39, short-term weakness but expect it to take off over the next few days, for a 10-point initial move), REAL (18 1/2), AGP (13) and Z (20). I tossed in the boring stuff for my heart. :)
I am looking for entry points on SUNW and MDCO. MDCO probably tomorrow. |
