I sold out today for 6 3/32, a 3/32 loss, near the close. :(
It looks like OAKT is trading strongly between $6 and $6 1/8 or so.
The sizes are tremendous. If I had to make a wild guess, I would
predict that the stock will break violently to the upside or (very
possibly, but not likely) to the downside, after staying at this
price for a while. This is a little more of a prediction than saying
that the price is going to either stay the same, go up, or go down,
cause I would bet that the price will make a drastic move, say
to 6 5/8 over a time period of well under a day.
Here's a good 10-day chart of the stock.
tscn.com
What worries me is the apparent difficulty getting over 6 1/8th.
My fear is that this is institutional (limit price) selling, and could go
on for a long time (i.e. another day or three). This coupled with
the huge sizes, leaves me a little nervous. I think it's best to keep
your capital where you can redirect it quickly, and it doesn't look
likely that we will penetrate 6 1/8 tomorrow. So 6 3/32 is good
enough for me. (The size at 6 1/8 was too big to wait through.)
My guess is that I will keep my money in cash until the next good
dead cat bounce candidate comes around. The last I caught
was RGFX, where I managed to catch 20% over night. Bad news
is that it is so cheap that you can't margin it.
-- Carl
Sometimes you get the bear, and sometimes the bear gets you.
I'm hoping to learn to let the bear get the tail end of my shirt rather
than an arm and a leg. :) |
