I assumed we would see a $3 bottom this week with no news, but I really expected news. The fact that it bottomed at $3.50 showed strength, and the commitment of people like Mr. D and others.
Next week seems like a sure thing for news, and who knows where the price will end up?
Personally, I would be happy if there were no news next week and the stock tested the $3 or even $2 floor, so I could average down some more, but that's very unlikely. For those of us holding long, the daily variations are only of psychological consequence... not that that's not important, but it only affects our Tums supply, not the company's fundamentals. What will affect it, one way of the other, are the financials. I expect that in the next week or two, and that will be the most important announcement that this company has made, or may ever make. On that point, I would agree with Mr. Miller (boy, talk about flamebait, though).
So my recommendation is that we sit back, have a beer (or a latte for Jane), or a margarita if you are a sailor like me, and wait for the news (and dollars) to hit the fan. Patience is the key. |
