PRFM - "If Anthony was really interested to make money for himself and his faithful, why short today??"
Why short today?
(1) With the initial gap up, many decided to take their profits and run. They had no desire to hold over the weekend. This initial profit taking got the momentum to the downside started.
(2) With so much good news expected Monday, it would be foolhardy to try to shake out the weak hands. Even the weak hands have some sense.
(3) By dropping the price to $11.125 (todays close), the "shorts" got a taste of blood. Now they want to extend their profits on Monday, or at least cover their positions. They know that the good news will come fast and furious Monday and they will need to work fast.
Predictions for Monday (I'm beginning to scare myself), unless we have some news from PRFM management over the weekend, we may see a dip initiated by the shorts not fully margined yet at the open. Some of the weak hands that went sleepless over the weekend will then jump ship causing additional weakness. Early in the day, the selling will dry up and the very vocal shorts will disappear into the woodwork. The stock will rally to a new high, but not to the heights we expected. Prices will be kept down by the "strong" hands that held on, but, due to the pissing match seen today, will have some lingering doubts and wish to protect their hard won profits.
Just my opinion. Any other thoughts?
Thanks.
B.M. |
