Paul: Yep, I got executed(let's just hope that doesn't become a literal statement). This looks like a knee-jerk reaction to the C.R. news. For those unitiated, who're already worried by the recent slide, they'd see this news as confirmation of their worse fears and would be now reacting accordingly. I'm hopeful of a rebound later this morning.
At this point, although I haven't looked at a recent chart, I'd hazard a guess that VLNC is forming a double bottom. If memory serves, a total retrenchment would take VLNC down into the $4.5 range, a bottom I don't expect....but then again.....I didn't expect the C.R. news, either. So anything is possible at this point. Clearly you don't want to be on margin with VLNC right now, it's too unstable. However, if you've the belief, then VLNC has got to be looking mighty tasty.
By the way, if MM's, or any houses interested in VLNC, are now viewing them from that "tasty" perspective, I'd expect to see a buying surge later today.....Anyone have access to a minute by minute indicator stream? |
