TSXV:KUR.H - Post by User
Post by
tagon Jan 30, 2000 2:43pm
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Post# 1297130
CDNX crash on Friday
CDNX crash on FridayWhy is nobody commenting on what happened Friday??
At approx 9:45 the CDNX went down and didn't really get going until about 2:00 EST.
Here's what happened. UBS opened at $9.45 and was bouncing around $9.20 when the exchange went down. When it opened back up at 2:00 the stock plunged to $7.20. What happened....Simple. The MM's saw the opportunity to scare the living Sh$t out of UBS shareholders, drove the price down triggering stop losses etc. etc., WE ALL KNOW THE DRILL. The exact same thing happened with other stocks I own including WV.
Sure, all the markets were weak on Friday, but this was outright robbery. But fear not, UBS will be on the rise again this week. Let's put it all in perspective. Since Jan 1, the Nasdaq is down 8% and UBS is up 125%. So don't tell me a good up-and-coming company like UBS can't buck a market trend.
IMO, we will see some pretty wild swings in the UBS share price until it gets listed on the TSE (which I think will be this week). But I am sticking to my price targets:
Feb 28, 2000 - $15.00
March 31, 2000 - $20.00
April 30, 2000 - $22.00
December 31, 2000 - USD$35.00 (a Nasdaq darling)
My advice to all of us longs is as follows. Always remember why you bought this stock and stick to your price targets. It will be a bumpy ride, but this company has got the goods. There have been lots of days in the last few months when I have been scared and tempted to sell, BUT I DIDN'T and much richer for it. It's hard not to watch UBS while it's on the run, but for your snaity and ulcers, judge it on a month-to-month basis.
Good Luck to all UBS longs, we'll get there eventually!!!!!