earlier today, and i was immediately met with "moron", and "enjoy your loss", and "i was the worst advice giver and all would do the exact opposite of what I did". well crap, going long at 23.40 instead of shorting at 24.50 on only 1000 shares has cost me $4300. Next time I will listen to myself and take my own advice, instead of what I read on here. OK, now here come the negative comments again.... I dont care if the market is down, what? 1%? 1.25%? there is something wrong wtih dmnd beind down 6% after being up 7% earlier. a 13% drop...
I didnt have to cover as I never went short. I sold at 24.57 this morning, and then watched as it dropped 5% to 23.40, and thought that was a good entry point, so I bought another 1000 shares. imagine my frustration wathcing this continue down into the 21's later in the day. Thats when I wrote the post about wishing i had taken my own advice and shorted. i would have done so for only one day. I never short and hold overnight. I hope you guys are right about the bad news being out and overwith, I didnt hear any bad news. And, anyone heard of "european jitters"? Greece with a hard default? Deflation? commodities going down signaling GLOBAL SLOWDOWN? I think these things FAR outweigh any good restatement or good performance or any good news that dmnd might have. No??
So far the total drop of 6% from yesterday's close and a small rebound on 3x the daily volume. I'd say the shorts just squeaked by but not being able to drop the pps by 10% with sell-on-the-news sentiment in a down market speaks to their weakness.
"Sellers Reduce Exposure to Shares of Diamond Foods on 2.0x Above-Average Volume (DMND) 1 hours 34 minutes ago - Financial News Network Online - Unusual Volume via Comtex
The price of Diamond Foods shares has slipped to $22.51 (a 2.7% change) on heavy trading volume. Approximately 1.3 million shares have changed hands today vs. average 30-day volume of 626,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.
Diamond Foods (NASDAQ:DMND) has potential upside of 99.9% based on a current price of $22.51 and analysts' consensus price target of $45.00. Diamond Foods shares should first meet resistance at the 50-day moving average (MA) of $22.63 and find additional resistance at the 200-day MA of $42.40."