RE:RE:People are sometimes to quick to blame manipulationIf you're correct sandysouci, than what I take from this is that McWhirter had, at that time, more people willing to follow his lead than the number of people willing to listen to the news releases.
Here is my guess.....
McWhirter has a fan club of copycat investors. He says what he does, and what his opinions are, and they copy....Most analysts, and EVERY good investor have loads of copycats. I have a strong feeling that there were LOADS of traders in on McWhirter's original positive interview regarding Pyrogenesis, and then when they heard he sold in the recent interview, they jumped off the cliff.
Personally, I love it. If you are investing with the majority or people, it stands to reason that you should get the returns that the majority of people get. I'm personally happier with my returns than that, and I'll continue to do things differently than the majority....Not because I'm contrarian, but just because they never seem to invest the same way I do.... But I'm happy with that, and so is my family and my bank account.
Cheers!
sandysouci wrote: I DISAGREE...
sure, it's normal for a pullback after a very good run, let's say 15-15% in this case???...
but imho, this unexpectedly large drop was CLEARLY started by what RM stated on Friday, which as everyone knows, was hugely misleading and irresponsible... the terrible caller's question posed by fdfd12 did not help, and really set the stage perfectly for the debacle... was that by design or somehow in cahoots? we will never know...
the company's rapid response (the only thing you can actually believe!) was very good and HAD to be done to refute the misinformation, but unfortunately came out late on a Friday after a lot of damage had been done, so the effect was minimized... they didn't have much choice on the timing... it also had to be written up very quickly, carefully, and under trying conditions, which would not have been easy!...
RM's following is probably pretty big, because hey, he's on BNN and he surely will having decent-sized following just from that... also, he will have a bunch of non-online followers, people who get their news on TV and newspapers, etc...
I would guess that he has since been buying into PYR again, most likely today... he would be crazy not to...
BarstoolSage wrote: First off, I bought in just over $5 then yesterday added in the high 3s.
Just want to say that for a stock that has advanced so quickly it is normal to pull back. I had thought of waiting as I saw a graph that indicated the longer term average was lower, but I was enamoured by the "story" and believed (and still do) that this was a good opportunity at the price I paid....as long as I was long.
In retrospect I might have waited...had I been smarter...but hey.
Guess my main message is this appears to me anyways as a normal pullback...people taking profits...which tends to cause a domino effect as the SP falls.
But that will stop and we WILL bounce back an onwards.