Honestly look at their sector. They are still overpriced at this level. They rode momentum and acquisitions for over two years. The ride is truly over. I will be getting back in around $10. I think it is fairly valued around $12 (jmo) and I think the market will over correct past giving us a buying opportunity.
Holding at this point is just wishful thinking that will get you killed in the stock market. Just my opinion, but this is the time to make tough decisions.
This is a normal time of the year Hedge Fund short effort. PRFT is still a good long term investment, since they have already stated in their Q3 earnings report that they have very little customer business with the financial industry. I hope the shorts have a good time, because when the FED drops rates again prior to the Dec. meeting, things will get hot for them.
If this was a boxing match the referee would stop the slaughter right now. There is no battle here. It's like the Patriots kicking everyone's ass. No one wants to step in and the Bears are feasting. Short covering rally for a while this AM sputtered out. Stuff this turkey and stick it in the oven!