To: Siber who wrote (16836 ) 4/23/1999 2:43:00 AM From: Tourist Read Replies (2) | Respond to
Just curious on an observation, not insinuating anything. When the stock was in the 7's last week, many of the day traders publicly posted their bailing out. To lock in the profit and all, that's cool. But my question is how did they 'know' to bail then? Why not at 8 or 10, there was no sign of people dumping (at least no visible signs using non-level II tools, i.e. yahoo) all the way to 7.5, yet when the daytraders bailed, they made it clear 'that' was the time to bail. Again, i'm not suggesting there's manipulation or anything, just trying to learn. Is $8 such a resistance level that because there are no revenue/earnings numbers yet, experienced traders knew it could not possibly break that barrier which has been imprinted in all of us and especially clear on a 1-yr chart? 5 straight days of 15+% drops is pretty gruesome but before the drop, there was what? 2 weeks of 10%+ increases? Although some had suggested that those were nice slow climbs, how is 10% - 50% slow? I'm just a beginner investor/trader, any mistakes i make are expensive tuition fees. With pnlk, i'm beginning to see that the experienced folks are right. Without numbers and a better exchange, we should expect these fluctuations. As for the banking alliance, somehow i don't think that is going to make or break the price. I questioned the company when i first looked at it last year on whether this was 'real' or just another 'hype'. Actually, i think i first read it on S.D. At first i thought they might have a case against pnlk because another stock they looked at was LOCK, some gun-lock company. I looked into LOCK and decided that indeed there was a lot of hyping going around. Anyhow, i got into pnlk a few months later on one of the spikes, slowing realizing that there's legitimacy in what they were doing. As the months rolled by, it was clear that pnlk was no joke and was heading somewhere. It'll be a while and there'll be a lot of bumps on the road. But i don't question its potential anymore and that gives me great comfort even with this recent slaughter.
