Update - MRVC
Pre-Market High: $ 4.20
Pre-Market Low: $ 4.00
Pre-Market Close: $ 4.16
Pre-Market Volume: 1,260,338
Last Friday Nights Price: $4.05, high of $4.20
Regular Hours Open: $4.17
Initial Spike Price: $4.18
Time of Spike: 9:30am
Initial Drop in Price from Initial Spike: down $0.21 (-5.0%) to $3.97
Time of Initial Drop: 9:42am
High for the Day: $4.19
Low for the Day: $3.97
End of Day Closing Price: $3.98, up $0.36
posted by CramerTracker @ 1/16/2007
6 comments
Comments on "Update - MRVC"
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Anonymous said ... (January 16, 2007 6:30 PM) :
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Anonymous said ... (January 16, 2007 6:53 PM) :
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Anonymous said ... (January 16, 2007 7:11 PM) :
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CramerTracker said ... (January 16, 2007 7:47 PM) :
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Anonymous said ... (January 16, 2007 9:51 PM) :
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CramerTracker said ... (January 16, 2007 10:04 PM) :
post a commentHere is an interesting observation. Looking at the charts it looks like if you closed your short possition and went long right away you could pocket some more cash selling within an hour of your short close long open move. Have you noticed that cramertracker?
I noticed the same trend.
I'm guessing WIT would be the play here?
Ha..very funny you mention it because yes..I saw the same thing and was going to mention it (honestly, I'm not just saying that). I would guess that a lot of people had the same cover point in mind...which is likely $4 (psychological price level) and as soon as it hit there everyone covered and created a mini-squeeze. I'm not sure this will work everytime if people have different goals as to where they want to cover their short. This one was easy at $4 and most people probably shorted between 4.10 and 4.19. If situations where there is more of a price fluctuation and people have different covering goals it may be harder to time the bottom and catch the run back up.
I noticed a trend with most of the stocks that have come out lately. All the charts show a bounch after the low (lol yes I know it would not be a low if it did not go highter). But it seems predictable enough to play possibly. I may try it next good short stock. You could make the move with one order just cover the short with double the shares. The hard thing is to spot the bottom.
Certainly worth a shot. I think the key would be guessing when the majority of people would cover. Nice round numbers are probably a good starting point....