Yes we did break support. This occurs each pre-run up as the MM's drop the bid to acquire shares from the weak hands and the technical traders. The question was asked "why would anyone give up there shares prior to the expected good earnings release and listing application after the 10K is filed? Because there is a high probability that sometime in the short term the MM's will suck up as many shares as they can with an intraday low in the low 50's (they've done it before).
Unless you are sitting at your screen all day, or want to gamble on a buy limit order, this is a hard game to play. The MM's will almost always acquire more shares than they give up (they have the order book and wait for the right time to run the stops pre-earnings).
So, in my opinion, this is just a technical confirmation of pending good news. With all the activity this year, I believe that it will be another 30 days or more to get the earnings (JMO of course). Once we file the 10K almost immediately after the earnings, I think that we will see a PR on the listing application to the AMEX (using Listing Standard 3).
Under AMEX Listing Standard number 3 there is no minimum share price required. I fail to see why there continues be a discussion about how we can meet the S/P requirements when there are none under this AMEX Standard.
HRCT has been in a trading range for a year now. We have built a good base in the .60 range. When it eventually runs all longs will be rewarded. If you want to be reminded what a real run looks like, take a look at PCS between November and January ($3.85 to $10).
Think contrarian. Most folks become bored with a stock and reach their pain threshold at about the time. If you want to "buy high and sell low" just follow the herd, otherwise, get ready for the next buying opportunity on an intraday low.
AI
