Comparing last week's selloff to the May 1, 2012 selloff
Looking at the selloff which began on May 1, the high on the first day of the selloff was 70.75 and the low on the final low day was 42.15, resulting in a total decline of 40.42% before the trend reversed.
Looking at the selloff from last week, the high on the first day of the selloff (Wednesday) was 43.20 and the low on Friday was 26.03, resulting in a decline of 39.75%.
What is interesting in this comparison is that the second selloff so far is within 1% of the total decline for the first selloff. Is the bottom in?
Now this may mean nothing since it took about 10 days for the first selloff to form an actual bottom. Just tossing this out for some comments.
There was no great return in value eitheir. A slight bias trending slightly higher for 6 plus months and then another major sell off, where we are today. This stock is plagued with problems. No reason to invest here, when there are so many companies that are not contiversial.
we will all find out soon enough, but the news was much worse this time I image... I am new here, but I am in with the shorts on this one. just think wall st wants nothing to do with these types of business anylonger..