Shorted SIA on 12 Feb. It has a runaway gap on 11 Feb after the results announcement. The stock has been pretty weak for some time. My regret was not shorting it earlier when the price was still above $10. Hesitation plus it did not throwback much when it bounce off the $10 support before it failed. Hit the support @ $9.40 region before it bounce off again from the results announcement. Saw that it was approaching the overhead support-turned-resistance @ $10 region, and hence decided to short the stock. Queued @ $9.89. 2 levels of resistance for SIA. The 200-SMA @ $10.20 region, plus the resistance @$10.40.
SIA had failed way back in 2011 during the Euro crisis in 2011. While other component stocks had managed to recover, and test their respective highs, SIA has been languishing between the $10-$11 range for close to 2 years before it broke the $10 support in Aug 2013. Definitely one of the weaker stocks. I think now is bouncing off the support @ $9.40 level, before it will fail and then bounce from $9.00 level again. I have the 200-SMA @ $10.20, and resistance @ $10.40 acting as a ceiling. Need to endure the pain from the short squeeze, if any.
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