there is simply a lack of buying, and in the absence of buying, the market makers just push down and we know at some point someone will get fed up enough to toss their shares. sounds like you're just about there. when you have those thoughts, more times than not, it's probably better to buy more shares.
there are buyers out there, but they are smart enough to know that they can just put their bids low and the market makers will drive the shares down to them.
I've decided I'll just buy at the ask periodically nibbling here and there. you place one small market order and then the programs all react and the bid/ask moves around wildly. I did it about 10 minutes ago.
I know the shares are undervalued. However, there's no way that I'm going to buy my entire position at one time. I'll just step back, take a little here and there and let it come lower. until there's a catalyst, or some fund wants to add to their position, why gorge?
the shares finished weak today. so unless there is a very strong rally at the open tomorrow, you can probably get shares under $14.70 without difficulty.
Even though you were down 1.38% - that's not really bad at all considering the indexes were a fair amount worse than that. As long as you're comfortable with everything in your portfolio, what happens in the market is just noise.
it was Russell reshuffling day - many stocks had ridiculous volume on the close or immediately after the close...generally all in one or two trades. AP was removed so there was a lot of volume as those index funds holding shares exited.
google for "2015 russell index additions deletions" and then go to the first link.
from the page on the Russell website, in the left menu, choose "Index additions and deletions» "
in the table returned, you can click on the index and Additions or Deletions and see what was changed. If you check Russell Global and Russell 3000 for the Deletions, you'll see AP in both.
davebugs, you are so right about this thinly traded stock. I've been watching Level 2 this week and how the shares move...there are definitely algo systems playing with it and forcing the shares lower.
but that's actually ok by me. I've wanted to buy shares previously. I've seen the insider purchasing, previously reviewed the financials, and am well aware of the business situation. throw in Mario owning over 20% of the shares, the pile of cash, and the secure dividend approaching 5% - what's not to like?
so, I say let the algo systems play their games ... I'm needing more shares in my portfolio...I've been sitting on lots of cash just waiting to put it in to some solid companies that have been unjustly trashed and this is certainly one of them.
will we get to buy shares below $15? I bought just above $15, so if we're going lower, let's make it a nice amount lower - say $13.75 to $14.00. I won't get my hopes up though.