More BS from the purported expert who so far has predicted the opposite of the moves of the last month.
First, Art, I don't "predict" moves. I don't have a crystal ball, and don't see into the future. What I do is assess current information, and the likely moves that are going to take place. These moves don't take place over days or weeks, but over longer term time periods.
For instance, last year I was calling for buying this stock hand over fist in the 30's and 40's, knowing the condition of both the company and having indepth knowledge of their customer base. You recommended avoiding the stock, and said they were drowning in debt.
I have recently sold in the 80's, booking over a 100% long term gain. I did so based on the changing fundamentals, resulting from the loss of long term supply. I have recommended that investors sell their positions and stand aside, only repurchasing if long term supply is reacquired on acceptable terms. This avoids the substantial downside risk, discussed by Cowen and others, a risk which you have been oblivious to. I would much prefer to be in a stock with the inertia to move forward on its long term plans, rather than a company who has had a cliff placed in front of them by Toshiba. WDC has major, major problems starting in 2020 if they are unable to fix what is broken. And Toshiba/Bain/Apple, et all happen to be in the drivers seat, and ready to stick it to WDC.
Oh, by the way, since every seller needs a purchaser, which institutions, if any, sold, and which, if any, were buying? And how would the purported export know?
The public is currently buying lottery tickets and the value trap, supplied by the institutions that are exiting their positions. Surely in your 60 years of investing experience, you have developed some friends that work on trading desks, and who can fill you on the various tools available to know where trades are coming from. I'm able to derive much information through proprietary analysis of multiple data feeds. If you believe that institutions sell by calling their broker and placing an order, you're being pretty naive. Institutions have multiple tools at their disposal to communicate their interest in buying or selling, and there are truly no secrets in the trading community.
You seem pretty nervous about who is selling. If you are nervous about your position, the best advice I can give you is sell down to the sleeping point.
I do note, Art, that you are now treating WDC that same way you treated SNDK on the way down from triple digits to 45. All the way down, you continued talking about how valuable the company was, and how lower prices were not justified. I remind you again that there is no Justification Board that sets prices in the stock market, and that prices are SOLELY a function of supply and demand. Petty much every time you said that lower prices in SNDK were not justified, lower prices were seen within days. These posts of yours are all a matter of public record.
You can be sure that Warren Buffett would never touch a stock like WDC in its current condition, because their business model is now broken. The majority of investors, including you, are oblivious to this. WDC's well laid plans have been thwarted by Toshiba. WDC is managed by a group you've previously painted as foolish schmucks for alienating Toshiba, but who you now hold in the highest regard as you try to provide support for your position. You've blamed them for getting WDC into this mess, yet you now claim that the talented management will exit them from this mess. Is just another example of the flip flops you do from message to message.
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