Jim, just like the upward spike was temporary, the downward spike will be too. The big boys are getting in this, and making it a little crazy. What matters is the average. The average is still moving up.
This stock can continue to go down until the earnings report (yes I know it's at 37). But at the earnings report, it will retrace all of its tracks.
You ask where is the support, at 40 or 30?
Well, as the support gets challenged, more of the stockholders bail, and the support drops. In short, I think the 'support' perspective is kinda bogus.
We're cleaning out some of the weaker investors, the ones who like to sell low (while still spouting the ever intelligent "buy low sell high"). I have decided that people have an emotional need to sell low, just as they have the emotional need to pay their psychiatrists lots of money. I guess security is expensive.
Notice how we've cleared out most of the idiots from this forum? Less filler material to filter out. Mostly only the rational people are left. But hey, they'll all come back to the party come earnings report. By the way, when is earnings? |
