This is what I am seeing regardless of the changes to naked short selling. We saw 2 down cycles recently. Each was a 6 day downward trend followed by an up cycle for a 2 - 3 day run. One from Feb 24th - Mar 4th and one Mar 7th - Mar 14th. Each of them also started with a Day 1 opening spike up. I believe we are on Day 3 today of the next similar cycle. The cycle should end Monday or Tuesday.
The first of the last two cycles saw a dramatic 63% decrease from the top to the bottom. The second saw a much less range of 28% top to bottom.
Two questions, how long will this down cycle be and what will the range of decline from the top to the bottom be?
I am thinking a down cycle of a bit less days, and a percentage of less magnitude as well. I think the bottom is on Monday or Tuesday morning and at 22% for a bottom PPS of .0795
I am a Long FITX holder and will be for quite some time.
What is nice to see about these cycles is that it is settling at a higher low from the previous cycle and the percentage of decline to the bottom is much less.
