Hi Steve,
"I don't understand why everyone is so unhappy about the downward move with regard to WDC's announcement. How often do you get a chance to buy a good company at a bargain price. "
Steve , let me tell why. "Unhappy" is not the word, try "Royally pissed, in spades"
I got totally out of QNTM at $36 in early September as I figured no substantial good news was on the horizon and that the DD market would temporarily tank on the SEG results. What happened: SEG's results were abysmal beyond anyones worst predictions, BUT QNTM DID NOT DROP A CENT.
Before earnings announcements on Oct 21 I bought 18500 QNTM at $39, QNTM beats projections and slides backwards. WDC announces warnings and QNTM TANKS (WHY NOT ON SEG's RESULTS, DAMN IT???)
That is why I am totally pissed and cannot glory in this new low price opportunity, because I sank 95% of my play money in one stock. I know that my judgement was correct, but it seems fate is against me.
I am a cautious investor, I buy outright, I dont buy on margin, neither short or place puts and calls.
For me, the last nail in the coffin was warning you on this thread on the Sunday prior to black Monday and not heading my own warning.
I will just have to ride it out.......
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