At the risk of being labeled something that I am not, a basher, the reality is that there is a bit of downside left. Take a look at today's intraday chart .. In my humble experience, that pattern says that in the absence of some external force, tomorrow will be a down day. Will it rebound tomorrow? Perhaps, but not till after the early morning volatility. Tomorrow will be a day trader's day. The stock will drop in the first half hour followed by 45 to 60 min of upside and then the day traders will sell off for their short term profit. After the sell off, anyone's guess where it will go, but te next 6 hours after that will pretty much determine where it will go the next day.
The unfortunate thing is that unless there is a really good rumor of something big, the overall volume will be down as will be the price. So, who wants to start the upside rumor?????
Nope, pleasee don't fit me on the wrong side of this stock I am so far down I have no choice but to hold, even if I did want to sell, because there is still the possibility that I am all wrong and will miss the drive to $20.00 that may start tomorrow ....!!
But then, there is still the idea that the only reason that this stock is down is because I OWN IT! So if you want to see it go up, buy all of my shares. Yup, it is all my fault. All I have to do is to buy a stock and down it goes - like a helium filled rock. It is a terrible responsibility, but someone has to do it! |
