onepoint has some good instincts - but he tends to get a little too negative sometimes - which is where we often disagree - i.e. I think there is a very very small chance this thing goes below 12 at the all time low - i am sure onepoint disagrees...
My take is a bounce is somewhat close - the question is does it bounce to 15 and then need to retest 12 to finally put in a bottom or is 13.35 good enough - the overall market tanking hard in the next month is part of this (I dont think we are there yet - despite today) again remember they are going to keep things somewhat normal so they can offload the facebook IPO and I think that will create a halo affect for a lot of other stocks. Then once everyone goes nuts with that I think you will finally start to see a significant move in the market - right now we are just trading in a range from 1350 to 1410 if you look at it -
Good weekend to all - Especially all the new arrivals on the board - Have some fun on Cinco de Drinko - even you onepoint ...
I'll be honest and not sugar coat I don't like what I see at all. I sold everything at 16.61 (from 14.87), but I bought half back at 14.2 but sold it all again at 13.6. Should have sold EARLY on the Friday morning bounce.
It will probably bounce some again so that was perhaps not the wisest thing to sell at 13.6.
This is probably the most significant decline on the charts both in terms of range and volume for this stock ever.
It happened very quickly. I don't see any way this is going to recover quickly, and I think you are going to see at least 12 before its over. At LEAST.
The stock did not recover from its drop from the yearly high despite a significant market rally. If the general market sours, its going to get real ugly - temporarily.
Good news is, Turtle is right, the fundamentals are good. But in my opinion you're going to have to wait a month or two for a real correction. If you can hold that long, great. I would wait for it to find its bottom, rise, then find it again (double bottom) before buying.
If you are holding from high 16's, my opinion is you're going to have to wait a while.
The upside is, when it finds its bottom, load up that truck for a 60-70-% upside minimum. I think at least the lowest price target is going to make.