Rain,
Not to be a contrarian or anything, but PAIR closed at a new low today. The last time the stock closed at or below this level was Feb 1, 1996!
My TA shows a confirmed downtrend with a basing personality.
Tomorrow the stock should be sideways to up, followed by an up day on Wednesday. But I must say that this thing is heading down, down, down. Towards 10. Additionally, they've opened up the 10 dollar option contracts.
OK,OK,OK. I know you guys hate hearing this bearish short jabber.
But truly, from a trader's perspective, PAIR is washing out. Those little blips up are teasers.
All that being said, I will admit to recently buying Jan. 12 1/2 calls. My gut instinct tells me someone is going to buy Pairgain.
Soon. It just feels that way. The chart is a loser, but I have to believe a good company like this with a somewhat narrow product range will be bought out at this price.
My $.02,
--spaw-- |
