This positive trading day simply allows the sellers of AMX to get a little more than they would have done if Wall St had tanked instead last Friday. No doubt the drop will resume if they do tonight, as is the usual pattern after a good rise. Only positive announcements will suffice to finally halt the downward momentum of AMX.
Perhaps someone can explain to me why two-thirds of the listed sellers aren't even on the top ten lines of the trading board. All these people are doing is inflating the sell numbers and preserving the downward force. Why the hell don't they remove their sell orders until the price starts to approach their desired sell price? That's what I'd do, in order to encourage others to to bid up. IMO that's more likely to happen if only about 3-400K appear to be up for sale, compared to the current 1M+. I guess I'm thinking too much like a minnow and in fact many of those sell orders are phoney and placed there in order to drive the price down to where they actually want to buy instead. Naive? Maybe, but at least I'm an honest trader.
AMX Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
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