God it sucked big time today.
However, I can not blame all those under 3 purchases getting nervous and their profit motivation taking over.
MMs can not short it, so thats only explanation.
I could have sold also at 7 1/2 other day. And kept huge diffrence, but thats not what its about since when the news does break, it wil go snow ball and you wil be left holding the bag.
We need to focus on fundamentals and set real mental stop loss on this stock. Ask your self what is your tolerance.
Mine is all the way down to 3 even tho my average price is 6 ish.
As for day traders I have nothing against them even tho I hate their profits at my expense LOL.
Thats also part of life.
I am a long bull but hind sight I wish I had day traded some.
But we are at an unknown here with this new phenomena, and clear trading patttern has not really been established. With impending news on the horizon, I do hate to see people sell at 6 hoping for 5 1/2 re buy. I've seen too many times people loose out to sell at closing and watch it gap in the morning due to news over night.
It is too close of a shave now.
I think again we need to focus on the fundamentals and future prospects and the best way to do that is further education on the y2k problem, market , scope of the TPRO's role , competition, the need etc.
It may be a good time for us to go back and read our library once more.
As for TPRO closing, it was a blunder by TPRO. The company shud defend its own stock. They shud have a in house MM who at the last minute bid it up for the 6 3/8 bid closing. It only takes 5 to 10 k shares to do that. A very simple procedure.
As far as who will benefit from warrants not being exercised? no one will, especially TPRO. There is no conspiracy in this. Again it was people who bought at under 3 selling out today triggered this. In the long run they are the ultimate loosers.
I sound schizoid here , since those who knows me knows me as the biggest momentum player out there. I play close to 1/4 mil a day for momentum play . I.E. I bought 1000 WDC at 42 7/8 today 2000 MANU at 38 1/2 at open. Which I will probably dump in a day or two so on and on.
However TPRO does not fit that agenda.
It is earmarked for 25 end 97 in my book.
Hang in ther folks and look at the cos fundamentals.
Joe Topro pondering. |
