To Erik:
I am just an average investor like everyone else here, and
I will try my best guess at this. For quite some time now,
there has been a series of negative articles in Barron's
(last month's Dow centennial issue), WSJ and a constant,
irritating barrage of negative comments on CNBC. All this
combined with the market's directionless wandering has
made skeptics of quite a few believers, even those who had
sworn long positions in these stocks (especially PRST, IOMG
and ZOLT) not very long ago. The non-stop questioning of the
market value of these stocks has finally taken its toll, and
we are seeing the results. Hopefully, at some point, the
situation will remedy itself through positive earnings reports
from these companies that justifies bullishness of people
like Cabot, and this psychological trend will reverse.
Unfortunately, until that happens, the downward
momentum may very well continue since there doesnot seem to
be anything checking it (atleast in PRST's case, I am sorry
to say).
Kunal
LONG on IOMG, no position on any other Cabot stocks. |
