All,
I dont like to try to predict stock direction, but everytime i've
seen "real" bad news come out, it takes several days of selling
and the price continues to drop. It does not drop all in one
day. I saw this in ASND, IFMX, RATL, etc... I've been doing
much better after pushing out these losers right away as soon
as bad news appears or the fundamentals change.
Dont keep averaging down. Instead ask yourself, with the money
i still have in this stock would I rather have it in another stock,
cash, or would I buy SIII at these prices given the NEW fundamentals
and problems? I used to average down, even when the fundamentals
changed, and i usually ended up taking it in the shorts. Its a
sick gut wrenching feeling watching a stock drop right after you
buy more trying to get that old break even price down.
I recently punted on SIII and a few others that dissapointed. Today
my portfolio gained 2.5%, while the ones i pushed out where
down the last two days (like SGI, IFMX, SIII, ASND).
If you really would buy SIII at 7, and like it better than any other
stock or cash, then go ahead and hold it. But be prepared for more
selling to come in the rest of the week and see 6,5, or 4 bucks a
share in the near future. You all know my personal feelings on
this stock, no sense to rehash that.
Sid |
