I believe a short covering comes in stages,, with interim UT in any shorts,, company knows this MMs knows this ,, they will play this to a hilt..
It's a struggle between the longs and the shorts,,, looking at the chart,,from the professional short was from 80 to 32 then the second wave of amateurs from 50 and 40s jumped in,, this is a braking point before another round of shorts,, but before shorting ,, shorts will have to bringing it up to a comfort zone again ,, since no stock goes straight up or straight down ,, unless a unibomber effect happens..
So I see from here possible up side to mid 40s ,, then another round of shorts,, like KTEL thing ,, either way the action is fast and furious,, I went long today ,, and closing on UT with gain ,, is a sign that we will have a moderate reverse...
Job nos benign ,,inflation nos docile,, strong economy ,, the correction never seems to come ...
I'd say we have another 1 1/2 to 2 weeks of bull market.. ENMD can do many crazy thing in that 2 weeks,, it could go up ,, 20 points,, on a another grand mother's fairy tail... like Dr. Isuzu Watanabe, the eminent cancer researcher of Tokyo University , did a preliminary study ,, on ENMD claims and consurrs that ENMD has far better chance to be successful on human model,,,or from Dr. James Leach , of Oxford Med school sees ENMD as a positive step ,, or say a large pharmaceutical offers a generous endoement and license request.. I'd say we are good for old high of 80 or higher,, many things can happen ,, for me having bought 2000 shares long at 33 ,,down side is $4,000 upside is equal or better,,I think better,, only thing people are talking about now is ENMD and viagra..
We will see ... |
