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VRNM great short out of the opening spike today exactly what we were looking for. It attempted to pass back over the $3.80 mark a few times - unsuccessfully. On its last attempt it got as high as $3.75 and the weakness began. As promised I was monitoring and posted comments regarding the short (in real time) and now is trading .80/per share less testing $3.00 (which may hold for a bit before it either reverses or breaks down even more). Suggestion: Cover at least 1/2 your position hold the rest for a possible further sell off, with the mind set to cover if it test green (as you’ll still be up nearly .50 a share at $3.30.)

You can see comments HERE.

Last nights comments below:

VRNM today’s Nasdaq percentage gainer, watching for a gap and continuation then I’m looking for weakness to kick in, I’ll see if there’s a borrow and reserve it just in case. It had a few upgrades so it might have a bit of support in there.. if thats the case let it squeeze, keep a borrow avail and wait for the opportunity, I’ll be monitoring this one and will post a comment with thoughts tomorrow once it begins to pan out

Tags: VRNM

This entry was posted on Thursday, August 7th, 2008 at 11:35 am and is filed under Recaps. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.