Hi All, There were $144K shares sold from 10-11. Couple of big orders (50K and 27K) in the timeframe. There's a lot of RED across the board today. And although some of these GETG sales could be attributed to shorts, a lot of people may have had to sell positions in GETG to cover margin calls elsewhere or just decided to take some profit.
Another phenomenon is likely occurring as well. The MM's are back from vacation and trading again. It's not unusual to see MM's drive prices down as we approach earnings season. MM's buy the shares cheaper as nervous investors sell off. Then good earnings pops a stock, the MM's realize a nice pop and look like heroes to their clients. Market psychology is critical to investing.
I'm long and have been adding to my position during the dips. GLTA
Wishful thinking. Sell off is dawning of reality to exuberant traders. Company needs considerable capital to deliver on the Must be in quiet period. I don't see new capital at current price. Then there is chance company fails to raise capital. There are questions on the stability/reliability of management.
GETG MANAGEMENT is ROCK SOLID -- I talked to JM 5 minutes ago!! TV and CNBC spots this coming week. Company will never fail to raise capital - Sales are growing at a steady rate and NEW ORDERS FOR THE 2009 SEASON are being booked EVERYDAY -YOU HAVE NO BASIS FOR YOUR NEGATIVE AND DOOM AND GLOOM POSTINGS. LOOKS LIKE YOUR FAVORITE QUOTE IS "CHASM OF DEATH" you use it quite a Few of your posts.
Sell-off is occurring across the market. Bad jobs report; bad cell phone sales forecast; add'l housing foreclosure news; bad news in overseas markets. There's likely to be a bounce up from the lows as the day rolls on.
Thanks Capestockpicker, GREAT EXPLAINATION !!!! You can be my stock guru, I'll just stay a Chemist and Engineer. We are working 18hrs a day to keep up with GET's product Requests. I'm in it till I retire.
Hey FIXXIT, No guru here! Just a real estate person with too much time on my hands from that slump LOL. I knew this was going to be a rocky week, but did not think it would be this bad. I got a 5% haircut across the board today. Ignored my intuition last week to go to all cash on Wednesday in anticipation of this mess.
Here's another morsel - this month is known as the September swoon. But, election years 'may,' emphasis on may, produce decent upside. We can only hope for a reversals.