RE:Thoughts on the tradingoh god, you are here too.
beware.
starsearcher40 wrote: This morning's selloff was nothing more than a bunch of traders taking their exit. That's not a bad thing. It's what they do, given the news. Shoot first, ask questions later. Personally, I decided to do the opposite today and bought additional shares into their selling. Now why, if I'm a trader too, would I be willing to do that?
What I was looking for was an indication from Cannacord, and was willing to follow their lead. If they bought over a million shares yesterday, and it was just a trade, and they started blowing it out, ok, I'd be out too.
But they didn't. Hmmmm, interesting. They bought in a heck of a hurry yesterday, and they are willing to hold those shares, despite the (old) news of a lingering piece of cra*p lawsuit. So what to make of all this?
I'm willing to entertain that Cannacord's "hunch" remains fully intact. It wasn't for a quick flip, and there is a good reason why their "hunch" leads them to buy so eagerly. And given this eagerness, I don't imagine it will take too long at all for this "hunch" to be realized. They have put a single open order in for another 100,000 shares at $3.55, which makes quite the statement, and on top of that are also up another 50,000 shares so far today. Basically, I take this that they are willing to take on more shares, and if someone is stupid enough to take it to $3.55, they'll take on a LOT of shares more.
All in, this story isn't over yet, and it's worth giving it a little time to see what comes. Is there still a story there? I would be yes.