Leo, I sold this morning at 54, saw it went down to 46, bought back at 49. So, now I am in the same boat with you, except that my stomach may not be able to handle another roller coaster like the one today and yesterday.
My reason for going back in is more based on the argument that this is an extreme oversold situation - those who want to sell have already done so. What we have now is mostly long term investors, people who bought at the low today and yesterday, and of course, short-term traders playing on the earning news coming out soon. The tough thing to access is that are we at a fair value @49-50? I'm not quite sure but I'm willing stick around to find out.
What I found interesting is that the stock did not stay around 46-47 for long before going back up. I suspect traders who short SPCT may be forced to cover quickly when they saw there were no more sellers left.
We may have again another wild day Monday. But I think the volume will taper off and the stock will float around 48-52 till the real data comes out. If SPCT meets the earning estimate - which is what the market has accounted for, then nothing will change. If SPCT beats the estimate, even by a small amount, we may have a good run upward. Of course, earning data is always leaked out before Oct 23rd (I saw it happened too many times), therefore the price/volume action in the stock will be the telltale sign of what is coming.
By the way, I sold my SNDK at 38 today as well (bought at 19 & 25). Enough profit, and try not to be too greedy.
P.S.: It seems your traveling may have some bad effect on this stock. So let us know next time you take on another trip :-) |
