It did hit $40 in the pre-market. I feel bad for that person if they bought and headed to work to what they will come home to.
I can only offer you how I would handle it.
I would just be open and honest with her as soon as possible. You were trying to give her what she deserves and you did not consider the consequences if the worst case scenario unfolded. Unfortunately, life is difficult at times, but those that step forward to accept the consequences for their actions, usually can feel some peace with this approach.
I have been around since 1986, but I cannot recall the coordinated targeted selling of one sector like what has occurred in the biotech area. I sold most of my shares too late. Took a beat down of almost 60% (margin will do that to you) in the last 3 weeks. It is true, do not play with margin. But, it is even truer, to NOT BELIEVE THIS IS A NON-RIGGED GAME.
In any free market there exists "randomness" to the data. There was no randomness about this. It was systematically coordinated between those with the power and the market makers. If you do not believe this to be true, you have missed out on how the rich get richer. In a fair fight, the rich would occasionally get poorer. Hell, maybe even more than occasionally because usually the poorer have WAY MORE determination.
But alas, it's not meant to be. The fox has the run of the hen house.
This is not what a lot of stupid people would refer to as a market correction. This is simply the guys with the most money (combined with the market makers) systematically rigging the market to take down the pps of the really good companies (you know, the ones where if people are going to go on margin because it's such a great company/story) so that it will cause those on margin to have to eventually sell because those not on margin but wanting to protect their profits sell first and so forth. It is corruption right in front of you and no one is telling it like it is.
You sir are not too swift. You think that average Joe was doing all the selling that caused this move down. Let me tell you, Average Joe tends to HOLD (almost like a deer in headlights) WAYYYYYYYYY too long and then gets out when the pain is just too much. See, he holds, if not buys more, because he BELIEVES in his investment. He understands the company and knows it is one of the best to invest in.
PROBLEM IS, the market is rigged to take this into account and thus, all great stocks are killed (strangely almost the exact same amount) and here's the key - ON VERY LITTLE VOLUME the market makers roll the stocks down....
Isn't it amazing that you invest all your hard earned dollars into a great company (after you invest a lot of your own time (which no one seems to factor in that cost as well) and if you are lucky you might get a 10% on good news days, while that can take years to get a couple of three of those days collected, THEY take it down 40-50% over a week or two.
Amazing that Joe Average still tries to figure out where HE WENT WRONG instead of trying to understand who is behind rig job.
Are you that delusional that you are trying to analyze the move down? So, you mean to tell us the IBB is not down 52%+ in the last 3 weeks as well? The fact that no one is speaking out about this is amazing. If we all pooled our money, moved for a 3 week period to a hotel next to a dealership and started selling competitive cars for 1/2 price and drove the dealership out of business as the customers in the area never considered buying the same cars at twice our sales price, and the dealership could not pay their overhead, had to lay off employees and eventually close for business. Six months later we are long gone, cars sell for basically the same price that were going for before we came in and set up shop and the dealership and owners have lost everything.
Do you think the dealership owners would be sitting back, trying to analyze why the Honda's over the nation didn't seem to go down as much as the Honda's in their own sales area did??
This is the rigged part of the market I thought 60 minutes was going to talk about. This is the part of the market that was missing for 5 years. And the reason it was missing was because the essential element needed to make this work was missing as well - average Joe Retail investor. See, you don't want to pull this on other's that know about this and are part of the rigged market, because than the market collapses for good and no one wants to play anymore because they know there is no way to win. But, if you can coax average Joe Retail investor back in, you can bend him over and cause things to happen REALLY QUICKLY so he can lose 50% or more of his life savings on one stock and write on chat boards a few weeks later, stupid comments asking how this happens.
I am amazed by all the stupid talk on BOTH sides. There is a 99.9% chance there will be no partnership announced today and that number probably comes down to 96% by May 1 and 90% by July 15. Maybe, sometime around Aug15-30 (if everything goes well with the FDA vote/timeline) your chances of hearing about a partnership or buyout go to 55-60% on the positive side. These odds are probably much closer to the truth than all the stupid talk we find here since last week. Hell, I have been posting NOT TO BUY just yet on the morning of and I sold the small amount I had the night before in AH's at $8.71 (500 sh) I bought at the previous close for $4.02 But again, it was only because it was on my radar and I noticed the huge drop during the day that I decided it was worth the $2k entry point. Use your non-greedy part of your brain and usually you will make out much better than the greedy part of your brain that keeps telling you to buy immediately.
You are NOT supposed to be tired of them. You ARE supposed to have a clue and recognize them for what they truly are - a signal that it is NOT time to buy. Why is this such a hard thing to teach people?
A golden truth is one that is true..............always.
The golden truth with the stock market - you never really ever have a long time to buy the best price. In other words, the stock is sitting here at $7.50-$7.60 in PM. It is sitting here with all morning your chance to go ahead and buy it........which means it is going lower during the regular market. Be prepared for the lower and act accordingly at that point
You have heard of the "you never get to buy or sell at a great price for any length of time" haven't you? Use your head why don't you.
Why would you be so greedy? Why not have bought 25% of what you wanted and scale in? Use your head and don't be greedy next time. Hold and hope for now.
A golden truth is one that is true..............always.
The golden truth with the stock market - you never really ever have a long time to buy the best price. In other words, the stock is sitting here at $7.50-$7.60 in PM. It is sitting here with all morning your chance to go ahead and buy it........which means it is going lower during the regular market. Be prepared for the lower and act accordingly at that point.
not too swift..