The action on this stock is dreadful, however I think the better play is to average on the way down, rather than get stopped out again. I opened a new position at $10.20 last week, so will look to add at $9-9.50. I left a little powder dry this time. (Lost on two previous trades) I have been trying to catch this knife since the low $13's. LOGI is starting to really make me look stupid!
Anyone with me, or should I take my lumps an forget I ever looked at this POS stock? Thanks for the thoughts, and good luck to all.
It's a proven investment strategy, dollar cost averaging if you feel confident in the stock. I missed out today, but I will buy more at below $10 tomorrow.
The book value per share is $6.75. It won't drop below that despite what some of the dopes on this message board say.
If LOGI does go near its book value, it will be a prime buyout target because that means the company's stock is selling at no premium above stock holder equity.
Looks more like shorts are covering than there are buyers as buyers are afraid of this falling knife. We don't know where this will bottom. Hopefully earning reports will settle the stock price. Company is in good shape no doubt. Just not right how the shorts can drive down the price day after day on a company with great products and great balance sheet. Unreal it's going on for days like this.
Even though I am long, but don't touch this falling knife. At the rate this is falling it will probably reach $6 to $7 by earning. Market is improving and this stock falls more. It does not look good at all, matter of fact it looks extremely ugly.
For us long and don't know where this is heading, I'd just hold and believe in the company. This gap down day after day on good or bad days is just unbearable ugly. I kept hearing someone's driving the price down, hell they're keeping it down lower and lower day by day. Buy small block to average down if you would. GL.