Vinh, Seems like an odd thing to say employees would be selling, especially if they see business is going well. Problem about blood letting is we can't really be confident that it has finished.
I've been casually checking Indonesia's currency and they have really taken a bashing in the last week. Of course, this is not a great market for ESI, but it's really a shock to see a currency go from 2000, to 5000, to 8000, then feel like well that must be it and then go to 16000 in a week. It may be a wonder if they don't have a war.
The great fear is greater problems hitting Japan and the possiblity of China not being able to hold their currency.
I've had the bad luck of not selling some disk drive stocks. Again, a different situation. Trouble was each problem seemed company specific, or sector specific. Then confidence was shot and really, almost every company has turned in a bad number. Worst thing was they had quite low PE's, and then you get a loss of 40 to 80 cents and warning of trouble next quarter and bang she goes again.
It seems like most of the days have a lot of small day traders. Don't know why they really get these big swings in price on 100,000 shares. The options are still carrying a high premium and have been quiet since that day before expiration. Was a real good deal for some one. Bought for 1/4 and went to almost 1 1/2 in a day. Was also nice of ESI to make such a good announcement at the same time.
Anyway, you seem to have a good understanding of what's going on. I've been mostly buying and holding :-(
Regards,
Mark |
