Havent post for a while, but there has been no reson too. Up and down the past week on zero volume. Today is a strong day for sure. Up on nice volume with huge blocks taken off the ask. One for 100m this morning, one for 50m a few minutes ago. Buyer hanging around with more to go.
2.50 was most likely the bottom. I would be happy buying from 2.50-2.80 for now. Sold half of my position from 2.90-3.20. Bought some at 3.65 and some more last week at 2.70.
As far as doom and gloom go sirius, Dow and NAZ and SP all have support around 2% lower than where we are currently. We may touch it but I dont think we break it. This correction needed to happen, volatility has been zilch since May. From a trading and fundamental standpoint, corporate earnings have been very good, and I personally think the subprime concerns have been overblown. Its been a reason to lock in gains, thats all. Lot of money still on sidelines. Since June when we rallied back there has been no place to buy in, now we have it.
