Sold all on Wed... Rentered at .65 a little smaller and still holding...
Look at the short position on this pig. from Yahoo: Shares Outstanding5: 184.75M Float: 183.26M % Held by Insiders1: 8.84% % Held by Institutions1: 86.90% Shares Short (as of 24-Feb-09)3: 6.52M Short Ratio (as of 24-Feb-09)3: 4.6 Short % of Float (as of 24-Feb-09)3: 3.60% Shares Short (prior month)3: 5.74M
If insiders/institutions hold 95% of the stock, then there is only about 10M available in the public float and it appears that more than half of them are short. Short squeeze potential is huge.
It all hinges on the 10Q which is expected "on or before Tuesday, Mar 31st". If it contains a "going concern" statement, it goes down, if it doesnt, or contains some good news, CNO breaks a buck easily....
Look at 6mo chart, the Aroon signals a change in trend, it crosses in Nov and the stock went up til January, it crosses again Jan 20th and the trend is down. The stock bottomed March 10th at .26 and has climbed up as high as .92 this week...notice it is still technically within the huge downtrend even with the recent pop. The Aroon still hasnt crossed over to signal the new uptrend.
Lots of upside potential still...RSI still hasnt broke thu 50, Full Sto still not thru 80
The Doji today could signal the end of the downtrend, or is it telling us that there is a reversal from just this past two week uptrend?
This looks like a Bullish Harami Cross. Red candle followed by the Doji.
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