I covered at 3/4 at 24.43, I'll let the rest ride overnight. I don't feel like babysitting this thing for another hour and a half.
Its still a good stock for the long haul btw.
So it closed the AH's session at $24.60
Hmmmm.
I think it was being channeled. IE, buying and selling by related parties just to keep it at that level. Those same party's that are long the the stock can slowly bleed their position by keeping it in that channel with underlying support they provide and selling to retail buyers... as long as they know a huge seller won't come in and burn their buy side algo's. Its purely a numbers game.
Most of you don't even know what I mean when I say that, but whatever. Its hard to explain.
This bitch is going lower for now though.
When it comes out of the gate tomorrow and does a huge spike... short it with both barrels.
Its still a great company long term... but its a trading stock too and now its the game of the week.
Short it on any spike above $26 tomorrow in the first 45 minutes. It will spike, as long as the overall market tide stays in.
If it stays up through the close... I was wrong. Do it again on Wednesday, cause I'm right.
This one is being gamed. ET players/members that listen... a nice Xmas card will suffice.
But we shall see now won't we.
-vz