Thought I'd post a chart of a previous and pretty massive shakeout on LYC. The price / volume action then could possibly serve as a history lesson, and those who don't learn from history are condemned to repeat it. Not saying it's definitely gonna play out this way, but it at least illustrates why it's important to wait for testing after a day like this.
alkefguy - we may have just witnessed what's called a terminal shakeout after accumulation. If the TOL is being issued tomorrow, what a great time to shakeout the weak. Maybe the TOL announcement won't be a buying climax like last time where pros sold out, maybe it'll be more a case of pros happy to absorb supply from fed up retail investors at super cheap prices.
LYC Price at posting:
82.5¢ Sentiment: None Disclosure: Held
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