Rocky,
This is margin calls, panic selling and frozen buyers. This is what it looks like. It is what it looked like in Oct 98, too, only then, Sandisk was trading down at cash value, and the panicked sellers worried about its existence, or just needed cash at any price.
The stock is a great buy here if you have money. I know you just recently bought much higher, small consolation, but it will be back.
Remember, margin calls beget margins. And market makers love this, they get to buy all the panicked sellers stock, and will take it as low as they can until the sellers leave. Only then will they bring it back, and buyers return.
If you don't need the money soon, just watch with amazement. They really do go down faster than they go up, as the cliche says.
s. |
