>>Did anyone notice how volume literally dried up in the last 15 minutes? A piddling 9000 shares.<<
Was this COMS? I thought COMS had decent action at the end...
I think you mean the big caps...CSCO, DELL,etc...I noticed
they dropped off at the last 15 minutes or so. I attributed
this to not wanting to hold over the weekend. But, COMS
was different, like you said...it went upwards strongly in
the last 1/2 hour or so. I think this is a good TA indicator.
>> I was much more concerned about 27 1/2 and, like William, I had not thought we would break it on the first try. Now that we have - and given the chart action - 28 is going to be a piece of
cake. IMHO. Here's why i think so.<<
At first I thought resistance would be at 27 1/2 because that's
where it was when we were going up before earnings, but then
I realized that the true resistance should be 28 because
that was the one when we we're going down...remember?
But, I think you're right about going through 28 easily. I think
that the accumulation over the last month made the float
smaller...so there are less trading shares for the traders
(short and long). I think this stock had way too many traders
on board, it's had a reputation for this for a long time. I
wouldn't be surprised if that's part of the reason we
went down so low...to clean out riff-raff day traders. Also,
now we have momentum going up with some
upgrades, and the mid-caps are going up...so this means that
we may have a few more short term long traders than before.
This is my theory, and we'll see what happens in the next
few weeks. What we need now is some good concrete
news from COMS to let us know they can make some good
earnings $$. Hopefully, COMS will come through on this.
$32 will be tough, if we get there. I'm hoping this
is when COMS has a bombshell news item. |
