The thing about rock solid bases is that there will be a gaggle of stop loss orders set right under that base. So from 15.00 down to 14.70 or so there are probably oodles of shares set to sell if the price gets there. Make no mistake that will now be a target for the shorts. Will they get it there and induce a large sell off so that they can cover? Looking at todays action it appears they may indeed get there?
Mental stops rather than actual ones are the way to combat this.
All it takes is one large short to start covering and the stampede begins. Todays close will be interesting.
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