Friday, January 19, 2018 8:24:37 PM
PCMI - hweb, did you see my post from... i forget whether it was last night or early this a.m. FINTEL site shows that Acadian sold out all 73k shares (and picked up a fairly large position in PERI).
Surely that weighed heavily on the stock over the past days or week or two.
Studies are showing that this is a momentum market. https://www.wsj.com/articles/the-momentum-game-has-returned-to-the-stock-market-1516058256
I think stocks that aren't doing well are being dumped to go chase stocks showing bullish charts.
As i also previously posted, the FINTEL site clearly showed some higher than usual shortseller activity for PCMI on Jan 2 and 3,
https://fintel.io/ss/us/pcmi which was enough to cap PCMI at $10.10 level on Jan. 2 and (as i later saw when i ran the parameter) refuse a triggering of the Parabolic SAR from "sell" to "buy" on Jan. 2. The stock immediately began a sell-off for days thereafter. It's like the "January buy" crowd abandoned the stock when that happened, and HFT algos forced it to descend to the bottom of its trading channel.
EDIT UPDATE: i just noticed from that FINTEL site that there was a much higher shortseller volume day TODAY (Friday Jan 19). Obviously there is a bear-raid on this stock to keep it from recovering thus far.
I think PCMI will recover, but it's been forgotten amidst the hoopla over the momo stocks and/or the MJ and Blockchain sectors--and, of course, the major indices making ever higher new highs.
Surely that weighed heavily on the stock over the past days or week or two.
Studies are showing that this is a momentum market. https://www.wsj.com/articles/the-momentum-game-has-returned-to-the-stock-market-1516058256
I think stocks that aren't doing well are being dumped to go chase stocks showing bullish charts.
As i also previously posted, the FINTEL site clearly showed some higher than usual shortseller activity for PCMI on Jan 2 and 3,
https://fintel.io/ss/us/pcmi which was enough to cap PCMI at $10.10 level on Jan. 2 and (as i later saw when i ran the parameter) refuse a triggering of the Parabolic SAR from "sell" to "buy" on Jan. 2. The stock immediately began a sell-off for days thereafter. It's like the "January buy" crowd abandoned the stock when that happened, and HFT algos forced it to descend to the bottom of its trading channel.
EDIT UPDATE: i just noticed from that FINTEL site that there was a much higher shortseller volume day TODAY (Friday Jan 19). Obviously there is a bear-raid on this stock to keep it from recovering thus far.
I think PCMI will recover, but it's been forgotten amidst the hoopla over the momo stocks and/or the MJ and Blockchain sectors--and, of course, the major indices making ever higher new highs.
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