AIPC gap up play

Discussion in 'Stocks' started by NoDoji, Dec 14, 2008.

  1. NoDoji


    AIPC hit 52-week high last week. Gapped from 16.50 to 19.70 on surpassed earnings, and with a 27% short interest I am guessing it sparked quite a squeeze, continuing its run all the way to 24.59 from the gap in 2 days, so I'm anticipating a pullback soon. Looking to short based on expected partial closure of this gap. Resistance is 24.59 and last price is 23.80. It’s not a heavily traded stock, so this might be a better swing short than a day trade.

    Anyone ever trade, or have an opinion, on this stock?
  2. NoDoji


    Chart with rationale for the trade is attached. Seems to be a high probability short to me.
  3. That short ratio is scary. But I agree there could be a fad especially if it rallies pre market. I might watch this tomorrow early. All those shorts scare me though.
  4. NoDoji


    Interesting, I placed a limit order that wasn't hit, then tried to short at market and suddenly no shares available message. Oh well.