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Wednesday, April 20, 2011 10:33:54 PM
No floor is getting established on the charts. ASFX keeps setting new lows every couple of days. Most of the old retail bailed either the day the R/S was announced, or the next trading day. With this type of downtrend, it's mainly speculators gobbling up the new shares being sold by the company, trying to average down and/or pick a bottom with new positions. You can bet that the MM's are shorting it too. This is a golden opportunity for them to drive this thing down to a penny and make a fortune. It's brutal. I'm still on the sidelines. There's an old trading saying, "You don't try and catch a falling knife".
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