Gerald, that's going to be one of the problems of owning this stock until it gets listed on the Nasdaq. There might as well be news black-out. The corporate headquarters could burn down and we wouldn't know it until the next day. Essentially I've invested blindly in this stock with a "shoot first, ask questions later" approach. If something is seriously seriously wrong fundamentally, then I think today's drop would have been of the melt-down variety. No, I think today was more related to "The Chart". The trend is a powerful indicator, and eventually there are people who can't take it anymore, and want out. Or they may not be desperate, but simply want out for some other reason: tired of waiting, bigger fish to fry, etc. At any rate there were many stocks which got dumped on this morning, including several which I follow: COMS, USRX, and QNTM. This was all related to the chart, and the fact that bad news had piled up, market sentiment was highly negative, AND critical support prices had been broken.
I do think I remember you from the ZITL thread. I was a bear there, having bought puts in ZITL on Dec. 31. I eventually sold them at a modest profit in March, with about 1 week left to go before expiration. Pity I didn't hold April options, because as it turns out, it took 4 months for the stock to completely break down instead of the 3 months I gave it...oh well..
DK |
