In response to Ken's post on watching daily movements . . .
Ken,
As always, I appreciate your point of view. But, one of the purposes of this thread is to help those that own Iomega to understand why the stock moves the way it does.
I think this type of information can be very helpful. For example, when the stock hit $22 on October 28, many might have been tempted to bail at that point so to retain the small gains they made by buying in the teens. However, noticing that the volume on that drop was quite tepid gave many the will to stay fully invested, and subsequently to make even greater profits. Of course, there are many other examples.
You post "Do you think the holders of 4 million shares all got together in a room and planned today out?"
Maybe, maybe not. But that's not a relevant question. The size of the trading and the way it was traded told me that there was a profound desire on the part of some to drive the price down today. It was obvious. It was also obvious from this that no one should have bought at the ask price today, due to this phenomenom. Watching "minute by minute" allowed me to wait patiently and buy more shares today @ $30, as opposed to buying at a higher level. I'm sure other "tape watchers" noticed the same thing.
You post "Most will eventually lose all their money (and give up on the market)by trying to guess the chaotic day to day."
That is your opinion. However, I sincerely doubt that you can prove that. It is from this chaos that money making opportunities arise.
You don't hesitate to talk about your bull spread positions. Why don't you let others trade the way they think best too? I'm sure everyone on this thread is as successful as you are, in their own way.
Trading analysis is not for everyone. But, many on this thread use it to make more informed decisions. Being a professional investor like yourself, I don't understand why you'd have a problem with that.
Anyway, just feeling chatty. Bought some more @ $30 today and hope, hope, hope that I didn't make another boo boo. Been making too many of those recently (probably from watching the minute by minute thing)
Take care |
