RE: RE: RE: CNBC it doesn't matter if the numbers are real or not. outfits like Citi can say or do whatever they want. imho, their sell recommendation (which some obviously caught wind of on Friday) is going to overhang the market for more than a day or two as a bearish seed has now been planted.
my take on this morning's action is that many puked their guts out on the open, we rallied (and some covered some shorts) and have again turned lower after being rejected at 50d MA. given what we've witnessed over the last two trading sessions, I'd be awfully surprised if the "forces of darkness" let the BB longs off the mat easily. rallies back to the 15.00 level (if they happen) are probably opportunities to lighten up in hopes of reloading at lower levels.
unless earnings are a quantum leap off the charts (which would likely have the shorts crying foul and pursuing regulatory action), I believe we should now be focusing our attention on the next quarter. in all likelihood, what gets announced on thursday will be deemed as yesterday's news. quite clearly the market believes this company's fortunes rest on whether or not the rollout of the new products is a success or failure in the US and that we won't know until the next set of numbers comes out. between now and then, anything could happen with the stock. while I am not suggesting it tanks all the way back to single digits, it makes no sense for it charge higher in a straight line either. in the short to medium term, i think the best case is that we remain rangebound assuming there are no wildly negative surprises on earnings day. grind away everyone, trade for 0.25 moves now.