RE:SPI put a stink bid in at $18.36 for potentially a few traders for the day. That got filled pretty dam quick. Too quick.
The problem is when we have DOW jitter days there just isn;t much on the bid with too many nervous nellies. This gives the short selling bears the chance to put the gas pedal down and hammer time down through the stops. Bagging traders as well down through bounce points.
The 2nd part of the equation is we moved too far on too low of volume. Doesn't really give bears the 56 million shares they need to BUY back to cover their short positions.
Going to be interesting few weeks going forward heading towards the next earnings and whatever other market news comes our way.