Well, VLNC didn't do all that much this past week, despite the global turmoil. This is both good and bad. Good because it didn't suffer on the downside of this past week and a half's general global nastiness. Bad because it didn't benefit in the past few days of market rebound. To me this indicates all "players" are standing pat with their positions. Everybody's waiting on the other VLNC shoe. If you believe this to be the case then the last few days of bouncy bouncy trading are probably MM related, with perhaps some folks pulling monies out for a brief "sidebar" play in another equity which may(from their standpoint) be truly benefiting from the market rebound. Although I didn't remove any VLNC monies I did play a few equity rebounds, TKLC being one of 'em. Heh!! When sumthings a screamin' buy, welllll, ya just gotta participate, eh?
So it's clear, to me anyway, VLNC is stuck in a tight trading range of $4.25 to $4.60, and will probably stay in this range until something of note happens. If it breaks the upper end on significant volume then I'd see that as a signal/portend of something about to occur. But be mindful of a bulltrap, as we've seen that more than once, too, eh? Bottom line? While we wait, "Smoke 'em if ya got 'em!"
John~ |
