Yep, it's nasty, and doesn't look to end soon. Clearly it's now a case of seller's a'plenty but no buyers, hence doooown it goes. I can't say I blame the perspective buyers, if YOU were'nt in right now, would you jump in? Only thing I can say is, I'm glad I ain't on margin. I predict one more steep slide due to margins continuing to be called(reference the above plenty of sellers), with the grand finale being that point where all house's say to their margin holders, "OK, that's it, cough up all the dough!" That's usually at the $3 watermark, but it may vary from house to house.
By the way, I removed my "giggles" order. I'm manually watching this puppy by the minute(almost), no point in having another trigger prematurely pulled if I can get it in the low $3 or, is this a possibility(?), in the $2 range. Who'da thunkup this scenario just 30 short(no pun intended) days ago, eh?
Bloody but unbow'ed(let's just hope it's not a case of.....to paraphrase Mr Gump......"Stupid is as stupid does.")
John~ |
