John:
My conclusions on yesterday's last minute sell-off are the same, last minute selling by the window-dressing guys. What's interesting, though, is why it occurred at the very last minute.
My guess is that whoever sold, (and I do attribute the selling a one or two larger holders) was looking to book a profit for the Q, & to jump back in pretty much near the same exit point. One would do this if one knew there were a fairly efficient market for this stock & that any selloff below a support line would immediately be met by some significant buying. So, if one waits to the very last minute, especially on a Friday afternoon, it is likely that one can get the opportunity first think Monday to reestablish his position with minimal cost. All I can see is let's wait til Monday morning & see where the stock leads us.
I, too, am aware of the poster on Yahoo you speak of. My conclusion is that he knows little and is merely trying get investors who frequent Yahoo to sell their shares into fears of insider selling. My conclusion is that insider selling is normal given the price history of the stock from last year to this year.
If he were smart he'd be buying at these levels since the stock held up remarkably well last week despite overall Naz tech selling. I just don't think insider selling is the issue here. But that's JMO. |
