My basis is in the mid teens, too. I am hanging on for potentially positive comments on the Conference Call with earnings on April 14th, assuming margin calls don't push me out first.
I expect that will be our first break.
We could get a short covering rally if there is any positive comments from an analyst saying this looks like a "buying opportunity", which a number of people have already figured out. That might occur after the weekend, but that is only IMHO. Another positive would be if the Company announces a GMR qualification, which I am not expecting, given that my understanding is that their in the middle, but not the end of many qualifications at this time.
It doesn't feel good, but I believe there is more upside than downside potential here. This being a Friday, I expect we will see the day traders exiting and close lower today then yesterday, with a potential upside next week.
Best of Luck. Have a nice weekend and try to forget the pain - easier said than done, I know.
(-8 Dennis 8-) |
