Seeking Alpha
What is your profession? ×
Profile| Send Message|
( followers)

I wrote last week we are seeing atypical technical moves that are simply obliterating bears of every stripe. This reversal by Polypore International (NYSE:PPO) is just another one that defies explanation. While I felt the selloff was overdone based on an "in line" earnings report, to see a huge red candle like that mean absolutely nothing, and the stock to reverse and break back over support and fill a gap, in a span of 2 market days is simply jaw dropping. I can't add much more that I have not already said - this market is punishing anyone who hedges, shorts, or thinks stocks can actually break down when support is broken.

Disclosure: No position