Tuesday, January 6, 2009

Explanation for the surge in McClatchy's stock price

Lots of people are befuddled at McClatchy's stock performance the past 2 trading days -- up 36% on Friday and up another 37% Monday. There have been no announcements by the company or new SEC filings that would explain the jump. But a McClatchy Watch reader with trading experience says the increase is due to short sellers covering.
I am telling you all, I do this for a living. This is a trap because the price change is for one reason and one reason only. Shorts are covering, that is all this is. Absolutely no one with any money or experience is speculating to the upside...

Just don't let anyone you care about, waste their money going up. There is no support level, no news, and on a down day.
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