Bullet Point – Volume Dropping Off
Wow! We saw very heavy volume in the early action, and now we have seen that volume evaporate. The good news is that the bulk of the volume happened at about $2.78. The bad news is that with volume evaporating away, there will be little strength in getting this equity above $2.80 today. My suspicion is that the heavy volume may be Liberty Media getting in another buy at current levels and perhaps they are done for the day. Watch $2.75 close. If I had to peg the close right now I would say $2.78.