LEVEL 3 (LVLT)

[mr_bitterness]

.80 sure was interesting resistance today. The volume was incredible. 162M. More than 5X the 10 day avg. The amount of buying today as it fell makes it look like a lot of shorts took their gains. Unless that's what it looks like when a bunch of new shorts take their positions under the new SEC rules. Of course, that data will be 2 weeks old by the time we see it. Advantage: shorts. BUt if the shorts have left in a big way, then advantage: longs.

Also need to see how the institutional holders behaved today.
And how many analysts change their rankings in the coming weeks.
And watch the markets.
There are a lot of forces at work here imo.

I did almost the same thing as you - it moved through the price of my order faster than I could change it, and when I looked again it was $1.00. I thought that would hold for sure, since it bounced right off it and the Q was better than expected. But not stellar.

I was not looking for a stellar Q, I just really didn't think it would be so punished for just being BAU. Given the current climate, I figured continued growth and beating estimates would be looked upon as a good thing. Well, they narrowed guidance. A bold move for a company in their position who was criticized and recently changed their stance on guidance. They never seem to get that one right.

At the end of the day we are looking at: -.08 per share in earnings vs -.60 per share in the market. Wow.

Still looking to buy a bunch of cheap ones as before the markets fell I thought LVLT was a bargain at $2.50 - $3.00... and it can move pretty quickly. There should be some new traders in as of today, maybe some shorts in around .80. For now I will watch and wait.