Do you own the stock still? You could be right uh or maybe not but I would say the last time you made a prediction the stock is now up approx. 70%%%%%. ...How about the guy ANAL yst from CIBC he left his clients with a few less sheckles on the table, I would expect CIBC to maybe drop coverage because they cant get it right. ... Are you his cousin Bean? Bye
I went back through messages to 9/11 to see what took place. A few notes expressing anger for the attack and sympathy for the victims and families.
Those stopped after market reopened 9/17 and it seemed like a return to business as usual.
Of course, it really has taken longer than a few days for "business to return to usual."
I also checked the conversation on 9/21, the day the popular averages reached 52-week lows.
One fellow that day mentioned "Institutions live for these type of days and by the time Q3 earnings come out they will be set up to benefit."
I read a few stock market magazines. One article about what the fund managers did after 9/11 quoted pro saying that although it left a bad taste in his mouth, he did a lot of buying that week with the understanding he was taking shares on the cheap from panicked sellers.
9/21 turned out to be the most recent low for MTR Gaming.
In fact, the day produced 811 new lows at Nasdaq and 800 at the Big Board, according to data I keep each day from Yahoo! Finance.
What is interesting to observe from I sit in the market reporting I do is that many stocks also took hits of anywhere from 50% to 60% and then rebounded to make new 52-week highs from the 9/21 low.
What I'm having trouble grasping is how fast a goodly number of Dot-Com stocks have rebounded since 9/21 on swelling volume.
Still, most are well below the July levels after the April-May rebound.
Yesterday, JDS Uniphase issued what amounted to a revenue warning, saying don't expect us to make a cent in 2002, even pro forma.
The stock only suffered a mild one-point loss and then rebounded today.
The market certainly is forgiving of stocks of companies with no earnings visibility for at least another four fiscal quarters.
In this company's case, earnings are probably at least several quarters away.
The U.S. economy, however, will find some way to muddle through in 2002.
As for the stock markets, a rise in the popular averages will be based on two factors:
Companies that actually report rising revenue and earnings and companies that beat loss estimates.
One side of the equation makes sense, while the other side makes non-sense.
But, in my experience, the stock market overall is neither efficient nor rational in short-term time periods.
I believe the stock has a good quarter already priced in.When CIBC downgraded he may of helped a short cover,thedowngrade made no sense because the weekly numbers are available for all.Have a nice HOLIDAY SEASON CSCO.