If you look at the demand and supply for POK shares, the sell recc would trigger a fair amount of supply over next two days. i dont really see alot of incremental buying at the moment as this has likely frightened alot of people as they feel it may be driven by the rejection or delay of fed permits. it worries me a little why he couldn't wait another week for this as we expect the BLM to post POK's submission on their website within the next week.. this should have led to a modest kick up in the SP when this occurs.
On the other hand if the recommendation is driven by pure price related factors (i.e. hitting his predetermined stop loss - a very loose one in my opinion), then this could be a good buying opportunity if one things the fed permits will arrive (i will leave that to you guys to decide).. i am guessing the good doctor probably wants to make his performance figure look at lot better so is culling all his bad picks.
Without sounding too contradictory (wrt the first paragraph), I think a lot of traders have already expected this move and a lot of selling has been done so although we will have more supply, I will not be surprised if we hold above 30 cents.
good luck all.
POK Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
