ANGO Update final

Well, after the move ANGO made today I am glad I didn't short. As mentioned in my first update the high early in the morning was around $23.68, but the high for the day was $25.90!!!! That's almost an 18% increase from yesterday's close and it didn't stop for a break either if you look at the chart below. So this would have been a very bad quick short.

Now I have a few thoughts as to why this may have been the case. Firstly, as mentioned, the stock had a high of $24 yesterday, so its not hard to believe it went to $24 today. The stock was also at the $27.28 level back in mid-February. So, this stock has been in a downtrend and so maybe this Cramer recommendation helped the stock find its bottom. Meaning that the stock needed something to stop the falling price, and Cramer's recommendation was it. Also, the company reports earnings next week and from what I read people feel they will do well.

On the Yahoo! message board I saw some brave souls trying to stick out their short sales (1 poster at $23.00 right where I had my order in for) and are confident that this will come back down and be profitable for them. But for me, with potentially good earnings coming out, this would be far to risky for me. Plus I have limited buying power, and can't sit on a losing short for too long before getting a margin call.


AVNX on the other hand had a more typical movement after a Cramer mention. It went down early in the premarket for what would have been a nice .10 cent gain for a cheap stock. This was not shortable of course since it was under $5.00.