Dale, are you selling out? If you feel on the edge of panic, it's a sign that the bottom may be near at hand. I'm not going to give buy-hold-sell advice, but keep in mind we are not seeing rational selling. There is a flip side, which is when the market settles down, buyers will be back in QNTM. DLT isn't in jepardy.
It's the general market that is taking QNTM down. In general market panics, few stocks are spared. I have long been convinced that the exuberant +200 and +350 pt DOW rallies after Monday, Oct 27th would not hold. A retest was inevitable. Too much money stayed on the sidelines, as the rallies we had were on shrinking volume. The +200 pt rally in the DOW several days ago was actually on below average volume. That was a sign right there. I closed my DJX puts today, although I didn't make much on them. I'm not sure if the DOW will retest the low of 7100, but it's not a real big drop there from 7400. We could get there without even triggering an NYSE circuit breaker at -350. So we're close I think. QNTM may suffer here, but I think the worst is past..
Hang tuff buddy,
DK |
