SPRD

Normally i try to stick to breakouts, but when I see something strange on one of my watchlists, I try to point it out. SPRD is on the relative strength list, and reported earnings yesterday. The numbers were quite good, and this was trading higher after hours, got a gap up this morning, and promptly got hammered, taking out stops all the way down to the 50dma, where apparently somebody was waiting for it. Whoever did it made a nice chunk of change off this. There is only 37 million shares in the float, making it a nice target for a little naked short selling to drive the price down in seconds, and that is probably what happened today. I don't normally hold through earnings, so had I been in this I would have been out before this, but it doesn/t necessarily have to be an earnings day for something like this to happen.