Trey,
I don't see it closing much lower than 7 in the short term. If anything, tomorrow we could see a small pop (from all the bone heads who'll put in those pre opening market orders) followed by some more selling and then lack luster trading... 5 will come with time if the company doesn't release some good news.
Funny, WSTL reminds me of APM. Look at some of the historical posts on that stock... It's holders were in denial the whole way down from a high of 60 to 5.00 per share... I read the preaching of the low PE, the possible take over and of course where would we be without the venerable "In at 45 and I'm LONG" & "it's the shorts, just wait for that short squeeze". Not too many where saying "well shit, maybe it's going down for a reason, sell". A reason that actually materialized months later. I've seen this happen too many times now, not to believe in the market efficiency. So, WSTL is and has been in a down trend for a while now. OH Well, all is not good over there in WSTL land. huh?
Anyway the insiders will get excited about any good news and the brokerages handling the deal will let their buds in on it so they can cover their short positions. So,look for a good base or a strong up day on vol of like 1,000,000 to signal a reversal. I'm keeping a close eye on it here at these levels since I'd like to be in there for the reversal.
One question for ya Trey. Is Lucent getting ready to develop their own ADSL or lite ADSL modems? |
