To: Emec who wrote (2612 ) 8/12/1998 6:18:00 PM From: Charliss Read Replies (1) | Respond to of 15094
I wonder who that single seller was? Perhaps someone who got fed up with the bit-by-bit erosion I spoke of earlier, decided to sell, but waited until near end of session just in case it would perk up or good news came along. Perhaps an institution that needed better numbers for the books, long term promise not a consideration, only numbers? Perhaps someone in a panic to convert to cash, as many have being doing recently, because of their market readings, or not in a panic to convert, but just doing it? Perhaps an investor with a margin call- looks over his portfolio, something has to go, tells the broker: get rid of this one. It might be an investor who could still have profit even though selling at the bid in this manner, knowing that this would cause some panic selling, and thus a lower price that would precede news that will cause the stock to take off, thereby making more money at later re-entry? Maybe someone with inside information that no one else has, information that suddenly the investor becomes aware of, five minutes before beginning the sell-off, information that is so potent he suddenly realizes that this stock is a very horrible risk, that indeed tomorrow will be too late? There are probably a few more scenarios out there- anyone take their pick, choose the most reasonable one, and then watch tomorrow and see what happens. It would seem likely to me that others will be selling off now, but who can say how many or how much? I hate to see this happen, especially since my HDIE is already down 17.02%, and for me to feel concerned is not unreasonable. My loss limit has already been exceeded in this stock, as have a few others that I am holding pending rumored news- and this is not a smart thing to do with a significant portion of ones portfolio. Also, I can't see this as a buying opportunity, if the price slides more tomorrow, because I am not cash-equipped (hehehe...like that term?) for it, and I am unwilling to use margin for this. I will just wait and see tomorrow, without reaching any conclusion right now. I might go out to a favorite club for dancing. Wednesday nights are Latin night!