Fred,
consolidation is just part of trading. If no one took profits, then the market would be one sided. Sure many took profits over the past few days, but there will always be an upside when the money comes back in. I can't tell you when, but if you have watched the cycles of run-up verses pull-back, there will soon be another run-up. What I was driving at was that since it was such a hard pull-back, rather than a slow decline over several weeks, there is a good chance for a recovery. Tomorrow? Don't know, but since TMCS did well, I would expect UBID will do even better, because of all the hype leading up to it. Merrill Lynch will not let it fail!
If we don't get a big boost in price tomorrow, I have traded this stock over the past week and would have to go below 10 for me to lose anything!! But, I don't think I or anyone has to worry about MALL not doing well tomorrow.
Since I'm long, of course I'm for a blast off, but I think it will be a cautious one.
Remember all this stuff is marketing and hype, the fundamentals and valuations are for the birds until things settle down.
Best to all!!
Don |
