RE:RE:What a Ride!The large volume suggests it's mostly short covering and I think it's based on the news on the last installment being paid out which shorts thought it wouldn't happen and they thought the company would file for bankruptcy. Now they know bankruptcy is not imminent and they don't want to wait it out a couple years to see what happens. Bonds have also gone up in the last week due to this.
I don't think it's big institutional buying as the company suspended guidance and there is still no insider buying. I'm happy either way and I hope Oberman can turn things around and save the company. They are doing the right things and it's all going to come down to cash flows after interest.
Good luck to us in the next 2 quarters.
Johnnysback wrote: Lumberfeverlong wrote: Tried trading this today and almost got caught with my pants down! Not trying that again! This is heading to double digits within a month or two at most!
Why do you think that? Because you own it? Did you just draw a straight line on a 45 degree angle going up based on the last few trading days and figure that its going to double digits? I dont own this but have seveal times in the past.... and am just curious... Is this just a short covering rally or is there some substance behind it? Does anyone actually know or everyone is simply happy because its going up? Reasonable question I think for anyone with good knowledge on this board.. Answer if you can. thanks.