So much for the modest rally target I put out last week. Friday’s short-squeeze panic shredded it in the throes of a $62 effusion that put the 1221.26 target shown in play. Night owls have a shot at exploiting the implied $15 opportunity, but I wouldn’t suggest this trade for beginners, since the price spasms from one second to the next can be daunting even during regular hours. As if around 9:40 p.m., the stock was glowering with menace on a shallow accumulation pattern mere pennies above Friday’s highs. DaBoyz took the stock down $14 on the opening bar, the better to rip off widows and pensioners and dry up selling, so you’ll have them in your corner if you find yourself rooting for the stock to go higher. _______ UPDATE (November 3, 9:05 p.m. EST): A bull-trap opening bar topped at 1229.00, but because no subscribers reported getting long for the ride, or short off the top, I have not established a tracking position. The decisive overshoot of the rally target suggests bulls will be back once the correction off Monday’s high has run its course. ______ UPDATE (November 4, 7:53 a.m.): Wowie! Investors — ever prescient and supposedly all-knowing/all-seeing in their collective wisdom — have repriced this stock by nearly $100 overnight. Index futures, down a few points at the moment, seem not to care — and so, one supposes, neither should we.
