I however would not call that a major sell off. It was just a brief spell of consolidation... If it was a true sell off it would not be trading at a new all time high just a few days later. Higher highs and higher lows is bullish trading action.
$8+ is quite a dump on a $40-50 stock in my opinion. It's trading at a higher high now after botched earnings because real short sellers aren't here, and we've yet to see some real profit taking. Like I keep saying, there is not as much interest here as the other two US 3D plays. Only a couple firms have even rated us here, what happens if someone comes out with a negative sell rating?
Yes I remember shorting the 33.50 on the IPO and made a nice penny on that short. I should have went with my gut today and went short like I was thinking about over $53.
What can I say.. I don't like this one up here over $50 I think it needs to consolidate $40-45 for a good week for once.
I don't like Spam!
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