RE: RE: Silkroad Equity bid reckless There is at least a turn over of 2 million plus shares being shorted or covered in a 2 week time frame. This indicates that there are institutions & may be hedge fund being very active in trading the stock for swing spreads. Some could be risk management too, shorting & covering & shorting again at different price levels as the stock moves..
The chart of the stock is looking much better. You have to watch how it deals with resistance at different price levels & the time frame. The over all market & oil prices will also have a bearing on the share price too. The levels to watch are $3.30 $3.50, 3.75 & then $4.00. The stock is coming from a nice base & has improved possibility of next leg up. Last time the stock ran up to the present price level it was very very hot & over bought. It is not the case at this time at these prices. But if it take a big spike here then it may get hot again & the institution will short it again. Last time when the stock traded above $3.00 the shorts were all over it. This time they will have to pick higher prices. Unless the markets fold or Oil prices collapse.
It is difficult to figure out if the shorts / trader are trading this stock solely on technical or both tech & fundamentals. Most trader trade on technicals alone. Algos run on technicals, the active bid & offers & overall market conditions.