RE:This is weirdFor what its worth YOLO, I think it was traders that piled on for Fear of Missing Out. I may be wrong but that was the conversation in many trading rooms. There was some short covering, sure, but I think most know its going to $1. The most bullish analyst RBC, downgraded to $2.50 and Canaccord to $1.34 I see from another post. I don't put much weight in analyst targets but its finally truth and consequences time for them and no one wants to be sitting with a $10 target when the creditors call for restructuring and its all over for common share holders. I mean... the writing is on the wall - does it go straight down? No, nothing ever does. But it doesn't mean people can't hop on for a quick trade either. Nothing wrong with that if you are skilled.
YOLO77 wrote:
look, many things don't make sense: I know people are saying Trump, strong GBp this week are helping, but it doesnt explain a rise from 2.27 to 3.81 ( and we got to 4.25) in 3 days. Oberman isn't bothered to come on the Q3 call even just to jntroduce himself, Kurpinsky dumps 530k shares at 2.42 (wtf?!) And guidance is suspended. I think the negatives this week outweighed the positives and yet we are almost back to pre Q3 earnings level. Why would the shorts cover now, on no news? And if they did cover they wouldn't do it frantically over a 2 day period when the bonds are trading at 40 cents on the dollar. Last time it traded this way is when the news of MT getting the boot leaked, then it got halted. No halt this time around, and this company is notorious for leaks. My guess is something is up - hopefully Oberman chimes in at aome point this week. Monday will be huge for momentum. If this goes up another 5-10% on Monday I will buy more. If it was a head fake it ought to crash hard on Monday. Anyone has some inside or theories to explain the movements of the last few days or why the shorts would be covering in a hurry?