Yeah, here's my theory. The stock has risen, alomst quadrupled in less than a week. That, in my books counts as a 90% (or more) slope with respect to price increases in a short time -- and remember, no corrections in between; just up, up, and away.
In addition, trading volumes building up heavy every day and the paper mentions grew equally substantially.
At this point, you've got the ingredients for a major f _ _ _ _ _ g correction, except one: a bad new story in the press. And what better press than in New York?
Can you spell sell-off?
This morning's 800,000 shares were sold at open to meet the heavy, heavy demand. Someone (or group -- you dream up who it was) borrowed the shares and dumped them in the market at open; they were shorting the stock. They didn't need to be rocket scientists: just to know about how the stock has moved without correction and that the press was going to deliver the bad news article they needed. You get the paper in the morning right?
Someone playing with these numbers
(800,000 @ apx. $25 per share = $20 million and if borrowed they to play short they would have to cover 150% of the share price or
$30 million)
knew exactly what they were doing.
Somebody made big money on this one play. Somebody played it short and won.
Big money wins this one. We'll all be smarter on the next.
By the way, what is next?
Regards,
Erik.
And to those that sold way too early and didn't hold or may have lost money, my sincere regrets. We're all here to make money. Let's stick together better. If the signs are there next time, let's post them! |
