Good post, Wayne.
I'll probably get a SCUD missile sent my way for this: BUT one of the "better" things we could hope for at this point is indeed a panic sell, and a sharp dip. The sharper the dip, usually, the quicker the recovery. One of the best places to see exactly this phenomenon on AXC is back in July, '96, and also, more mildly, several times since. Volatility and volume [as is more often typical than not], increases on dips and often precedes upturns.
On the other hand, there are some caveats this time. The facts that we are SO near the hideous $5 "mark of the margins" and that the stock has been steadily downtrending, may make any selloff truly severe and painful (remember, for ME, too; easy on the SCUD!) and a quick recovery seem ever more elusive and seemingly long in coming.
Mary Beth, if you're "listening" (always enjoy your posts, incidentally), I too am way down, wish I could buy more, but am currently unable. I think a ride out on this one, the "patience of James", and a real asking of the question: Would you still buy this stock at this price and WHY?
AXC has good fundamentals and as someone put it earlier, they are prioritized on "progressing the Company - earnings are secondary." IMHO, if their plans and tactics (more salespersons, a PR person, lowering costs on DST products, all that's in the 10K) all fall into place they will have attained BOTH goals.
Down but long... Best to all - RM |
