Re: Nomai news and today's action
Senthil,
The testers found the discs ok, ACCORDING TO NOMAI'S PRESS RELEASE.
Like a press release is gospel (note: Syquest).
While I do not recommend sticking your head in the sand, today's action, along with last week, is the handiwork of short sellers, nothing else.
Today's lots were not small. I saw 10K, 15K, 25K, 50K lots go off all day. The reason I knew it was short sellers is that every time a big bid came up, the shorts sold into it without waiting. They were trying to drive the price down, as opposed to getting the best price for the stock. This was very obvious.
IMO, it's not that we shouldn't worry about the shorts. They can make us nervous in the short term. But, we haven't seen a 4MM share day in 14 trading sessions. When we do, most likely we will see a 1-2 point gain in the stock. When the buyers come back from vacation, the shorts don't have enough money to sell all the stock the buyers want.
It is easy to short when the volume is as light as it's been. Note that today's volume was the heaviest in over 2 weeks. It took that much selling pressure to drive the price down as far as it went.
Stop worrying. Well, keep worrying, but stop complaining. This is why they call it a market. |
