I'm as amazed as everyone else! I can't figure out why there has been no filing yet. It doesn't make any sense. But I never guaranteed anything. I expected to see it, but since I have no inside information, all I know is derived from research, news, stock chart analysis and speculation. I don't believe I have ever promised there would be a 13-D last week. I was merely convinced it would happen.
I'm not selling anything, though. And I'm not saying that you or anyone else should hold on. I still believe that NM is a takeover target. I don't know if it will happen this week or next month, but I plan to buy options and hold my shares until this company is bought.
The selling has been pretty light, and most of the volume has been from buying, even this past week. I don't know who is buying, individual or otherwise, but it's almost as if the specialist is playing with the stock. Looking at the volume and prices in the intraday charts, I can see the activity has been focused on $9 & $8 (round numbers). Today, for example, the volume picked up as the stock hit $8, and when the stock fell to $7.875, the volume increased as the stock rose to $8.25. Last week, the same thing happened at $9. It's almost as if there are stop-loss orders to sell at that price, and when the stock falls below it, someone jumps in and buys.
The previous article may have been one reason for the drop today, but general market blues, NM profit-taking (from the big run-up), and a recent analyst's downward revision of estimates can all be blamed for the selloff.
I'm waiting, just like the next guy.
TDW |
