for me, this is a chart play. indicators said we bottomed after the rise on monday. can charts be wrong? yes. but more often than not, you can rely on them.
having said that, it helps if fundamentally the company you are trading favors your position. if i was going short i would obviously want a fundamentally weak company to complement my trade.
while SAPX is not fundamentally strong, they have shown enough with this last PR to justify the "bottom" the indicators are saying has occurred. just the facts that they will not do a reverse split and have decreased their debts substantially are enough to keep this bottom in place for awhile. how long? i don't know. i'll be out before most here and will wish these guys the best. there's always another stock going up, i scan for chart plays, trade and move on.
bottom line, no PR is needed for this to continue going up. all we need is volume. if you notice, since Monday if the volume is high it goes up, when it goes down it is on very little volume.
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