wow, down almost 25%.....
over the past months it has hit here and bounced back before droping again... i wonder if this would be a nice swing trade to try out.
Wow,I have not looked at this in a long time. Down 30% in the last two days on earnings. Here's another example of a small company with a small float, high institutional ownership of 90 %, zero debt, over $3.00 in cash per share and high short interest at just under 30. When companies fit that bill and earnings are missed,the shorts punish the hell out of the stock.
How crazy are the analysts? Wunderlich came out on the 7th and maintained a buy rating with a $22 price target. They then come out the very next day and lower the price target to $15. Screwy fools.
Anyway,if you are going to swing trade this, let it settle down a bit before jumping in. I have been guilty of getting into a beaten down stock too soon forcing me to endure some pain when I could have been in the stock cheaper.
This is now on my watch list again.
Just noticed that SGI just filled a gap down to 10.10 from one year ago on 2/2/11. This may be good for a starter position in the 8.75 area.
You thinking about getting into this OldFart?
From earlier post>>>>>>>>>>>>"This may be good for a starter position in the 8.75 area."
If I had the cash,I would put a buy order to get in at 9.0 with a stop right below it and day trade it up to 9.50 or so until the bollinger bands come in a bit more. It does look like the serious selling is over and directional momentum is slowly shifting.
On a good note the vice president did buy on the 15th of this month at 9.25. For an insider,it was a tiny buy at 2500 shares so,I would not go all in on this alone.Also,today,they just announced a new president and ceo.(not sure if that is good or bad for the company.....hmmmm)
SGI awarded 27.8 million dollar contract
I would not touch this yet.
Wow oh wow,I checked in at 10 am and saw it down 1.25. Came home and saw it down almost 3 bucks and almost fell over. Theres a boat load to read up on,I will check it out.