Any idea why the increase, aside from the fact I was ready to buy?
Three possibilities: First, it is March 30 and there has been no preannouncement of bad earnings, and people may be betting there won't be one. (Or some people have reason to think earnings will be strong. Frankly, I would be surprised by an upside surprise.) Second, we are almost at April 1, and people can be bidding up the stock in anticipation of the merger being announced. This is what I've been worrying about, as I got ready to buy. Third, we are also coming up on a Jewish holiday, and people who could be away from the stock market may have decided to buy before they got ambushed during their brief absence.
As a buyer today, I will tell you there wasn't very much stock being offered. That, plus the low volume last week, indicates to me we probably have seen a bottom. But I'd like to hear from Rob. |
