Not so concerned about top few lines either side. I'm far more concerned about overall daily volume it has crashed, this indicates to me a lack of churn therefore a lack of traders. As PSY can't be shorted traders are only interested if it can go one way: UP
I should know I day trade stocks on this sort of momentum all the time. Where were the traders today? Not PSY, hence the drop to 10.5. Who's left holding those that got caught and those that think it is LT hold or about to issue news or some other reason.
Like I say what is the company worth? Flip a coin 2c or 20c. Until it is trading volume I'm not prepared to enter the stock.
Good luck to those who do. I'm still betting 9.4 before 14. Happy to be proved wrong on this one. If it gets wind in its sails then I'll be back as a trade.
4TK
PSY Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
