It is very hard for a stock to fight the overall market condition/direction, especially a small cap with a lower daily volume. Even earnings/news events have a hard time overcoming overall market sentiment. If CCME hadn't been beaten down from $13/share to $10.50/share in early May from the market meltdown, the pre-earngins move rather than fighting back from $10.50 up to $13.90, would have been able to start at $12.50 - $13.00 and moved up past $14.80 imho. The overall market pulled it down so much, it got it's interest and footing at a much lower initial starting price for the pre-earnings move. Stinks!
The candlestick today formed a hammer (selling initially early in day and then buyer came in and bought it, as the overall market strengthened), The PR out this morning didn't stop the down draft from the overall market selling off early on.
Tomorrow will be telling. It would be so nice to see some follow through and interest here this week (if the market cooperates). I'd love to see a 1 million volume day and some institutions and funds take some interest here. Isn't it time!
The market being set up to disappoint the masses is ridiculous! It would be so nice if things made logical sense and happened the way they were supposed too. But corruption reigns supreme and that's why it's hard to make money in the market and so many people get burned.
I'm playing powerball this week. If I win, I'm retiring and will never look at a stock again!
