A glimmer of light Back on November 1st I wrote about the lack of insider buying. As a forum member posted here earlier, there has been some action! What's interesting is the profile of the buyer. You should check him out. Seeing an investment from a veteran high-profile financial person (CPA) with some insight into the $ numbers, and the fate of Corus, is hard to ignore. Now... if we could see a few more people stepping in, that would please me greatly. A sharp accounting guy with superb credentials, who is not a stock analyst, is right up my alley.
Having been beat up pretty good so far, I am sitting tight. And truthfully, if there is a volume spike along with a big + price jump, I will be all over this thing. I am not going to have a knee jerk reaction to just one guy making a move. But for sure, it's time to watch the trading a lot closer.
Personally, I am long the story, and was checking in every couple of weeks. Now I will watch at least once a week, and here's why
When the shorts finally decide this thing is not going to zero, they will get bored watching it go sideways as it builds a base. Which I think they are doing now. None of them appear to be running to the exit and there is orderly trading.
The trigger for me is following the "changes to short positions". I don't have the time to search around, but if someone reading this does... it would be great to see the +/- change every two weeks.
When the shorts are covering, that will be confirmation of a turn. If more insiders step in, that would also help confirm. If we get 50% increase in trading volume, that would confirm. And if we get back to $0.72 (30% up) the technicals will roll over (short period MACDs).
In closing, any day I see an accountant buy a risky stock... I am shocked (lol). All kidding aside, a glimmer of light just shone on us. Thx for reading.