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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc. -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (3276)	11/29/2017 5:54:58 PM
From: SiliconAlley	Respond to of 4833

The people that matter are in the minority, as they control the most stock, so most people doesn't apply. In previous sell off's WDC held at the 200 day, with lower drops than others. The pattern changed today. Those who usually buy in defense of technical levels chose not to today, and for that there is a reason. In any event, when stocks are being bought with abandon, fundamentals are often ignored. They come home to roost in declines like today. WDC was not the baby thrown out with the bathwater, but rather was the bathwater. WDC has broken major technical support and will not have the recovery that a healthy stock like Micron (well above the 200 day MVA) would have. All you have to do is overlay a chart of MU with a chart of WDC to see that one is in an uptrend, while the other is in a downtrend. A single day over day decline does not tell the story.