There's been an increase in volume over the past few days. Do you think the June 21st put exercisers and short covers are driving up the price of STPFQ? Or is it a result of dumb money investing in Suntech Holdings with the belief it still owns Wuxi Suntech (which has made expansion plans public recently)?
There is apparently a penny stock promotion by BreakoutStocks that began June 10. I'm a June 21 put holder, and these clowns could not have timed this worse.
5 comments:
There's been an increase in volume over the past few days. Do you think the June 21st put exercisers and short covers are driving up the price of STPFQ? Or is it a result of dumb money investing in Suntech Holdings with the belief it still owns Wuxi Suntech (which has made expansion plans public recently)?
When it crossed over the 50 day moving average last week, it seemed like that signaled moron daytraders to start buying it.
There is apparently a penny stock promotion by BreakoutStocks that began June 10. I'm a June 21 put holder, and these clowns could not have timed this worse.
That makes it better from a pump & dump perspective.
Although there's actually very little open interest in the June contracts:
http://finance.yahoo.com/q/op?s=STPFQ+Options
Jan 15s have much much more.
Crossing the 50 day moving average attracted the attention of "those people" last week.
When it loses momentum, they'll dump it, and it should set new lows again.
Post a Comment