as i mentioned on this thread before, i cut my nn holdings (by 60%) north of $60. i'm pissed as hell that i didn't sell the rest as it still represents roughly 10% of accounts and i KNEW the stock was ahead of itself. do you want to know whose fault it is...........?
IT'S MINE. this forum (si) has gotten so ridiculous in blaming everyone but oneself when a stock goes down that i rarely even stop by anymore. collusion conspiracy theories between analysts from different firms? give me a f#$%ing break. if you really believe that, go join the idiots on the data race thread that think the entire world has conspired against their beloved race ignoring the fact that the company is a heartbeat away from bankruptcy, has management that is out of touch with the realities of being a public company and have a product that apparantly nobody wants to buy.
anyone that has read my posts knows that i do not hold analyst ratings in very high regard but that's because they're sheep and often have a conflict of interest-NOT because i believe they manipulate stocks. traders do that. learn how to do technical analysis and you can profit from their manipulations.
when i posted that i was selling, many on this thread were posting that the stock was going to 80 or 100 without any fundamental reasons. as i said then, the stock was no longer a value and had zero room for screw-ups. well, they screwed up and misled many of us. big surprise that the stock sold off? please. if you are in this stock you should at a minimum listen to the conf calls and if you had you would know that there are some serious discrepencies between what they said during last quarter's c. calls and the press release and conf call this week. their credibility is damaged and that is why the stock didn't bounce like everyone here thought it would. it's a great company BUT we're now paying for these mistakes. t.m. was too arrogant about their ability to quickly intergrate the ub acquisition and take on csco. they're being spanked in the lan and are still making excuses that don't fit with previous responses.
someone else went on a tirade about people asking when earnings were due a couple weeks back. i agreed. if you own a stock and you don't even know when their qtr ends you should sell and buy a mutual fund. si has turned into a cheerleading, back patting forum for stocks that are up; and a venting, blame everything/one but yourself when a stock drops or you don't sell when you should have. none of this is important. it's a waste of bandwidth and, imo, keeps most people with something useable to contribute away.
my idea of a useful and worthwhile forum is one where people post stories/links about the company/industry that others may not be aware of. it's one where everyone has at least done rudimentary homework on the company to avoid the dribble that is 90% of si posts now. finally, the members would be sophisticated enough to know by now that emotions have no place in stock decision making.
sorry for the tirade and to those who disagree, please spare the flames; i won't respond to them.
all imo only....nick |
