Looks like someone put in a big sell order near close today that drove down the price by about $2 per share. It also looks like the pattern of the last few quarters that was described earlier by Carolyn -- a big run-up in price before the earnings announcement, followed by a sell-off on the predictable news (predictable to regulars on this thread, anyway) of earnings two cents above estimates -- isn't going to hold. Of course, this makes sense because once a pattern becomes too predictable, and speculators begin to trade based on their understanding of that pattern, the pattern is disrupted.
Only idiots try to predict the market, but what the heck:
The price of WIND will continue to fall tomorrow, because traders who don't follow the company closely will sell their shares because they will assume that today's decline was the result of "insider" knowledge of "problems" that will be divulged in Thursday's report. Then, following WIND's announcement of 18 cents per share on Thursday evening, the stock will run-up again on Friday, because the traders who sold on Wednesday will be "relieved" that the company made its number.
Of course, maybe Abelmann will do something wild and crazy like report nineteen or twenty cents per share, and the stock will run-up on Friday like a bat out of hell.
In any case, as Allen is fond of saying, us long-termers will be bemused by the gyrations, secure in the knowledge that WIND will make us much wealthier over the long haul. |
