Re: If this keeps dropping
posted on
Jun 02, 2008 10:16AM
After hours traders must have been M.M.s to take it from 3.77 at the close to 3.60 at the a.m. open. It's a really tight trading range today with great resistance at 3.60. It appears there aren't many people letting their shares go. I sold some and bought them back making just a fist full of dollars for fun. I didn't see the point at this time in the day of waiting for a meaningful drop. They could take it down more towards the end but I think they are finding themselves in quite a bit of competition with others wanting the shares too and no one is really being scared into selling. It's getting more costly for them to pull this off. Having said that, the longer the wait for news, the more opportunity to try again. My best take.