MetroPCS Communications, Inc. (PCS)

[bowonwing]

Per P&F chart >$13= "bullish." http://stockcharts.com/freecharts/gallery.html?PCS

Long pole down from $17 to current $9.33. About +50% from bottom of long pole down is about $13 per share. If and when PCS can get +50% from bottom of long pole down, over $13, it would be bullish technically for the stock.

Re: shorts, "someone" made a fortune last week on PCS. IMO such downside dramatics is not how institutions usually liquidate a position. They usually like to creek out of a position to limit the downside while they are liquidating, unless some catastrophic event happens. PCS' Q2-11 results were "OK," and such a sell-off was a "set-piece" as far as I am concerned and had nothing to do with PCS' Q2-11 results. Of course overall market getting hammered did not help.