>>>Are you paying attention to AVNT today? I was penny foolish and missed it this time around. $25+, wow...this is going to get interesting. Will we have a dead cat bounce?<<<
I don't think it's a dead cat bounce if it's just oscillating between 25-30. I was also penny foolish as my GTC short sell order is for 31 (well, I think I will lower it to 29 1/2 now). It got as high as 30 3/8. Missed it by that much. Oh well, I still have my puts if it decides to really dump.
A lot of people have speculated that the institutional holders are "supporting" the price, my opinion is that they are trading around a core position. When it gets to 25ish, they'll start buying, giving it enough momentum to propel it to 30ish. They start selling at 29-30, and probably down to 28. Then it falls back to 25ish, where the process is repeated. Do this 10-15 times and you have your initial capital back, and whatever you get when the core position is dumped is profit. Of course by the time someone like me figures out this is going on, it is usuallly just about done. I think we'll see 29-30 (fingers crossed)again before too long.
Barb! |
