RE:Terrible Day for QNC
Munger wrote: After all the chatter about going ton30 it's Looking like an exact repeat of last year. Friday's closing price will tell us if the trend line is going sub 15 or if we are back on track. Whales beached for now.
Volume trading on the way up was in millions of shares. Voume today on the way down is less than 500,000 shares. This tells me a few things:
1) In todays tree shaking event.... likely the only people selling were a few that were looking for a quick flip in the first place
2) To me, this verifies that there are more shares in possession of those holding longer term.
3) Back to point 2. In this event, any news with a favorable catalyst should make the share elevate quickly
Happy Holding!
FI4