if PSEC closes below 10.90, its 50D moving average, today. It will continue to decline because right now it is in a bearish trend.
This was what Market Edge said about it recently:
Avoid the stock.
Stock is Not a Short Sale Candidate.
If you are long, close position or monitor stock closely"
Moving Average Convergence/Divergence (MACD) indicates a Bearish Trend.
Chart pattern indicates a Strong Downward Trend.
Relative Strength is Bearish.
Up/Down volume pattern indicates that the stock is under Distribution.
The 50 day Moving Average is falling which is Bearish.
The 200 day Moving Average is falling which is Bearish.
Look for Support at 10.39
Watch for resistance at 11.12"
Jade, you have really shown your stuff by posting more rants while the conference call was going on. If you were really a sharp guy you would have been listening, learning and maybe even participating.
i dont know what PSEC will or wont do.... but regardless, market edge is of little value. i have an account with schwab, so i see market edge on the screen daily. it swings all over the place and offer little else other than noise. and.... as of yesterday, it rates PSEC as "neutral," revised from "avoid."
There are many PSEC loyalists who are still in self denial. The problem is if they have convictions that PSEC is such a great stock and a great long term hold, they should indeed buy more of it today. It did appear that most of them lack convictions. If they are indeed smart, like instant, they should have sold it early this morning at 11, and now they could have bought it back a lot cheaper and still enjoy its juicy dividend. These so called loyalists aka pumpers will jump ship when PSEC starts sinking and sink it will, in the next three months. I did warn you yesterday it will drop at least 2% today.