US National Telecom (USNL)

[liljoe]

no short squeeze

i agree. i think there were so much dumping today that shorts must have cashed in (i know i would have). the high volume sell off and consequent short covering only means there are now only long term investors (bagholders) left. without renewed interest in this stock, we're basically stuck here until some anomaly puts this back into everyone's radar again. more than likely, it'll drift down to .0001 unless some sort of PR campaign spins this or actual solid financial filings validates this company and the buzz starts again. i'm sorry, but i've been here before. that's why i can't stand pumpers because they signal premature sell-offs.

on the other hand, having a big volume spike for a sell-off could also signal a reversal. many positions closed today for a realized loss so it could be seen as a capitulation and if most of the shorts initiated covered, the money to be made by market makers and investors would be to the long side from here. USNL also showed up on the bottom picker's board so there may be some who will try to trade a bounce from here. i'm eager to see what the price action and volume will be like in the next few days/weeks.