If misery loves company, you've got some.
I too am long the stock...long term. IMO, what we are seeing is
some selling by funds & institutions. LVLT's last placement was
at $54, and that was gobbled up by a lot of big institutional
firms. When it broke $54, (I'm NO T/A), it was a sign of worse things
to come.
I'm NOT giving up on the company, I'm still long & will be. From
what I've read, the analysts aren't projecting LVLT to turn a profit
for 2-3 years. IMO, that makes it a prime sell candidate for any
mutual funds that hold it and need some cash. Not bashing the company,
just TRYING to look at it like a money manager. Again, I assume
it is institutional money. I personally don't know anyone who trades
in 10,000 & 15,000 share blocks.
Maybe someone on the thread who is a T/A can tell us where the
200 DMA is, and where next support is?
Regards,
Doug |
