Post away, that IS what this thread is for and you paid your dues to have the right.
MTA, In NY this represents the Metropolitan Transit Authority.
I am not a chart expert but Eric had once said this stock doesn't want to go lower. When I look at the chart I see a left inclination as it has dropped from April.
I also see that April was pure exuberance that we were living in the future already. Actual reasonable level looks to be in the 60 range.
But, what I see when I look is the appearance of reluctance to drop. Not being a technical analyst, I can only guess this leftward lean represents a struggle between buyers and sellers. Maybe market forces pushing down hard, while believers keep buying hoping that 'this is it, the turn around has gotta be here soon.' I know I have thought this at times.
And you are right, buy when it is the hardest thing to do and everything around points to why one should not. But, as Ah has proffered, there is much wisdom to awaiting a real base and re-testing of same. Currently we just slid past a long-standing base. I can't imagine mid twenties, but I couldn't imagine 32 again either.
Good news is that either way, the position of the company itself will become appealing to someone and its value will rise at some point. I have hunkered down and await this moment as I now await the return of spring here in New England.
The BS of this company is that for all the 'talk' at the recent cc, Armstrong has not really supported ATHM yet (will he at all?) and I have not heard anything offensive (vs. defensive) from management. And a rumor that Excite may buy UPI? Same company snatched from the jaws of bankruptcy in the 90's by the Arabs? Hey, this makes a lot of sense. Great way to dilute the value of the shares. What an answer to the TW buyout.
Keep watching those riseforms! |
