Ta Ra Ra Boomdeeay we're down again today. Hey! If you're loaded up there's no more to do but wait. Now we wait to see just how low it will go and scoop up some more if it falls very low, making it easier to average down.
We've been given the idea that the shorts want to close somewhere around 23 and under, maybe they'll be able to push it there, and maybe they'll be able to push it back down to 6 dollars, who knows. Only thing I believe is that if it gets down that low, there won't be enough shares around for them to cover. I'll just guess that there are many people on the sidelines just waiting for a chance to plunge in here.
There's two ways to push a stock down, one way is for investors to sell out, and the other way is for shorters to keep dumping into low volume trading moments. I don't think that many investors, shorters or otherwise, would be interested in shorting a company earning profits with good future prospects. That's a position that only someone with plenty of cash and market resources. They definitely require an ability to manipulate a stock, to be able to take a position like this, with any hope of avoiding a devastating loss.
So far things appear to have worked in their favor, but who can say how long that will continue? Be of good cheer and don't let the trading depress you. The market is full of tricks, whips, ducks, turns and surprises. Only knowledge puts one beyond being fooled and/or manipulated themselves.
Remember the saying: "If Santa Claus should fail to call, the bears will come to Broad and Wall"? Well, that's not always true, even as the saying has become popular over the decades.
Happy Investing.
