To answer your question best to my ability, I believe PSFT will trade in 19 to 22 range tomorrow, or maybe even as high as 23 for a short while. I don't check on this stock for a whole day and look what happens! This sudden price drop comes as a shock to me, but not totally unexpected. It's a good thing I sold off half of my short term shares while it was at 26. Due to this sudden price movement, I now see anything under 20 as a buy for short term trading. Please beware that whoever is manipulating this stock has done so twice already and probably won't hesitate to do it again. As a matter of fact, I wouldn't be surprised at all if these "Buttmunches" tell more of their buddies to downgrade this stock and within a few days, another joe-schmoe analyst downgrades PSFT from BUY to HOLD or maybe even to a SELL in an another attempt to degrade this fine company in what I perceive to be an ongoing effort to collect even bigger shares for themselves. The result? "Big Boys" win because they are the ones "in-the-know", hence they buy/sell based on inside information before the media. For example, prior to this morning, another analyst downgraded PSFT from BUY to HOLD. Did the rest of us have any idea this was going to happen? No. When we learned of this event, did we have any chance to sell before the big price decline? No. Just because some analyst downgrades PSFT from BUY to Neutral, does that justify 7 pt drop from 25 to 18? No, not really. So, what's really going on here? I mean, sure, the company's growth outlook has been reduced from its previous expectations(what was it? from 40% to 30% growth?) but let's look at the fundamentals....I think they are still great(as in Not So Bad to a point where this company is going bankrupt within the next few months). No, that is not the case at all. The fact is that this company is still growing. It's just that the rate of growth has slowed down by a "bit."(as in 1/8 of a byte as in "this bytes!" or "byte me."). It's really nothing to jump on the bandwagon with all this sell frenzy before this stock hit the low teens. No. There's solid support at around 18 to 19 per share and despite all these analysts' degrades, there are still considerable number of buyers who are gobbling up these shares at these rock bottom prices(i.e. around upper 18s) Isn;t that why this stock hasn't tested the low teens? Because it probably won't ever get there...unless more analysts give two thumbs down in addition to even more small investors dumping their shares. Then maybe this stock will reach the dreadful low teens with many of us losing shirts and blouses left and right. If that's what it takes to drive this stock that low, then I guess that what it takes...
Wait a minute, I am so tired that I don't think I am no longer coherent. Nevermind what I've been saying. What does a silly little girl like me know about the market? I'm sorry I made read this long pointless post for nothing.
Robin |
