Ronald:
I watched it drop on light volume, too. Normally, IF there is such
a thing in the market, it would indicate the specialist is having
to buy the stock. There were no "real" buyers, so he just dropped
the Bid everytime a sale was presented.
It is MOST frustrating to watch a stock sit so low when the data tells
me it should be priced higher. I readily admit I am & have been bullish on the stock since it became public. But, if you look at their
earnings, sales, etc. etc. growth, I think my bullishness has been
justified by the facts.
The market has burned the speculators... the Iomega/netscape/AOL/Zoltek, et, al crowd has learned 2 lessons:
1. Volatility works both up & down.
2. Leverage (margin) is a B**ch when it goes against you.
We seem to see more conservatism in the market. Great earnings just
cause stocks to hold or drop very little. "Sell on good news" seems
to be in vogue again.
I own more WFR now than I ever have. It may take a little time,
but I still believe we will be rewarded for careful analysis, studying
the facts, & waiting.
Regards,
Doug |
