My call, for whatever it's worth.Some people watch the markets much more closely than others.
let's not debate it.
The more active "watchers" were well aware of where the stock would close yesterday only minutes before the actual close.
the momentum players in that group were likely buying at the close.
The more "passive"investors likely had a pleasant surprise when they looked at the stock last night, or even this morning.
Some of these people would have seen this as an opportunity to sell into strength, at prices we haven't seen since last January.
There's no question there was at least some selling by this cohort into the opening.
The stock has held up very well against the inevitable selling that comes early in the morning after a big move to multi-month highs the day before.
Those sellers usually dissipate in the first hour or so, after their selling is exhausted.
Once that particular source of supply is removed from the supply/demand equation, there's a change in equilibrium.
I say this moves higher still from here.
The afternoon is anybody's guess.
$1.67 on 57,000 shares at 10:24.