Hi, thanks for your post.
Far be it that I should be an apologist for the market!
Manish, let's take a hypothetical. You've seen my earlier post about the small share trades today, I hope. Let's take an analogy.
The way the NASDAQ works, particularly the small cap, if the morning were made up of small trades, say 100 shares or 500 shares, and the greater number of them at the bid (sell), no matter what the volume, the likelihood is that the price of the stock would decline. So if we had a 25,000 share day (well below the daily average) we could see a significant decline if the bid were hit on a steady basis. Today, despite the volume, we had many trades under 1500 shares and the greater number were on the bid.
Unseasoned investors see their stock going down, and so they hit the bid, and the downward stairstep begins. It's important to do the appropriate dd on a company one buys IMHO and also to have sell points well in mind.
IMHO what we have today is a simple sell on news scenario. I think the meeting tonight will start the rumour mill going in a positive way, and IMHO we'll see the stock in the mid-to higher $2 range again soon.
Manish, you have to admit that there was a lot of internet chatter about this week. Also the stock did increase on significant buying. There were many large buy blocks over the last few weeks. I don't think those have evaporated but again, I don't live in Kansas anymore, and you have to take my opinions with a grain of salt since I'm from the left coast!
Best wishes, and of course, all of the above is in my humble opinion,
Ed
BTW didya see that last trade of 31,500 go through at 2 3/8...now that was overbid, didn't reflect the market, and so far as I know, wasn't a late trade. Probably a worked "not held to the tape" trade. So Manish, the big blocks want the stock so far as I can tell...if you've got yours and like the company, hang in there! |
