What do you see here?
Mar 28, 2012 9.74 219,000,000
Mar 27, 2012 9.60 249,161,200
Mar 26, 2012 9.93 241,605,700
Mar 23, 2012 9.85 283,110,900
Mar 22, 2012 9.60 264,520,500
Mar 21, 2012 9.82 326,573,800
Mar 20, 2012 9.81 451,213,900
Mar 19, 2012 9.53 669,479,900
Mar 16, 2012 9.80 582,294,100
I see a very tight consolidation/basing. We had a very strong close at 9.80.
A completely false rumor dropped it to 9.53. Then back up. Then drop back
down to 9.60. Then back up. Then stupid analyst report to drop it back to 9.
60. Then back up halfway today on a down day for the Dow.
What is going on here? Big boys want more time to accumulate below $10. So
they push it down each time to give some chance to accumulate. Volume is
very low. Why? Because if they bought as much as they want, they would send
this stock quickly over $10 and they would lose their chance to accumulate
below $10.
So they accumulate slowly, push the stock down if they can. This can go on
for a little while longer, but eventually, time is up, and they will let
this run. Once it starts to run, they will use all of those tactics to goose
the price as high as they can.
Expect a strong run-up before earnings, that's leg 1. Then earnings will
tell you what leg 2 will look like.
