am I getting a lot of TA right by saying it leans very heavily on the truth, "A body in motion tends to stay in motion"???
How a stock thats selling for 1/2 off true value, and has already been chopped off 40% on no news should keep going down simply because its been going down is beyond me. Course, I've seen em go up to for the same reason, Iomega and Presstek are the 2 most extreme examples that come to mind from recent memory.
But I think this is more like the disk drive makers of last spring and summer, when they just kept falling and falling and falling. WDC hit a low in the 20's I think, then less than a year later hit 77! Same company, different perceptions and market moods.
I wonder how low this can go tho, even as ridiculously low as it is. At this point, even a bizarre 5 7/8 stop would be a relief, as stupidly low as it is. stock just can't go up for anything, except good news I suppose. What I dreaded looks like it may befall us- just when AXC is ready to hit the big time, stock market tanks. We're definitely in a growth and story stock bear market, based upon what many momentum and small cap managers have been saying. Van Wagoner just mentioned in Worth how his style stocks have been in a bear market. Where will it finally quiver and stop? |
