To all the longs,
I have been tracking this stock since last Q's earning. I'm a TA guy. As far as I can see, there is no reason to buy this stock until it's bottomed. "Never catch a falling knife" rings true again. We all know that this Q is going to be a great Q again, but WS is looking for 5-6 months down the road, how do you longs in this thread know that the same debacle happened on the last blow-out Q won't happen again. Even with a great Q, WS might just brush it off again.
Stock falls on its own weight. You don't need a lot of sellers to get a stock down, all you need is that buyers dry up. Without buyers, sellers would lower its asking price. Last few weeks the selling was due to large amount of new shares and large institutional sellers. But with doubts planted in the new buyer's mind by MONT, we may not have a lot of sellers, but without new buyers stepping up to the plate, the stock will still fall but at a slower pace. I expect a rebound sometime soon, I think that will be a good chance to get out, hold you cash, wait for the bottom and then buy back when the stock starts to go up after a break-out. I know that I may not catch the bottom but I am willing to trade a little less profit for a lot less risk then if I buy too soon. This strategy has saved my rear end a few times.
Just to toss it out for you longs to think about.
Eric
P.S. I have no position in this stock at this point but watching very closely. |
