Special K., Maxpower, et.al.: The thing to recognize about the market is first it's cyclic in nature, and second it's the product of an emotionally driven animal, human beings. And this animal is prone to not remembering history, thinking each time "it's different."
As a consequence the reality is it's always the same old story.
So in light of this the best thing to do when times are as they are now is to look at the fundamentals of the company, market sector, etc., within which you've made your investing decisions. As long as these remain sound, and I've no reason to think otherwise with WSTL, then the best tactic is to keep to your plan. The losses, as of now, are only paper. If you're not on margin, and still agree that the fundamentals are intact, then the best thing to do is ride it out. Currently what's going on "out there" is emotional in nature. Don't fight it. Don't get in front of it. Just let it run until exhaustion. THEN jump in if you've the coinage set aside for just such a moment as this. So unless WSTL's slide from ~$16 to ~$9.30 is based on something extremely negative not yet made known, this is what I plan to do.
Max: Currently Island & Archipelago show a slight amount of buying in the $8.75 range. However, there's absolutely no selling (excepting ~100 shares at $9.75) indicated until ~$10.5. There's basically a wasteland of activity on either side. So my view is WSTL's been wrung so dry it hurts (no pun intended). It'll take a significant market event to shove it further down from here. 'Course...with the lunacy resurrected in the Mid-East.....anything is possible. Bottom line? Sellers tend to not show their hand until market open. So....If it starts off being jerked downward by a sudden influx of selling, then look for a bear trap which might send the stock back upwards.
Now let's see how Friday the 13th abuses us today......
John~ |
