Friday, May 09, 2008

Sell, sell, sell...

Izzy's legacy hits another 52-week low. It's still above the all-time low of about $3.40 set in 2003, but not by much..

TorStar falls through the $13 level (off 2004 high of $30), hits modern low, does dead cat bounce back above $13.

1 comment:

Anonymous said...

And the bloodletting maybe just starting.

But today’s action reflects something different. A darker mood. A 500,000 share block traded this morning in and around $13.13. That’s a big cross for this name, and the stock didn’t trade up from there. Normally, when a capitulation trade comes to pass, the stock bounces up in the hours that follow. That didn’t happen today. ;-(

What that means is this: Torstar shareholders and Bay Street prop traders don’t think the beating is going to end just yet. As a result, the stock closed below $13 for the first time since I started watching the quote circa 1997