FormerXBC Inc XEBEQ

RE:Ringing the bell Monday morning

[tamaracktop]

tamaracktop wrote:    Maybe Kurt will surprise everybody and give us his rendition of Tubular Bells, by Mike Oldfield.
   'Not particularly pleased with Friday's trading. It definitely did technical damage, although it was technical selling. The 3 and 6 month trendlines have now been broken, support is violated, and the stock closed at a price well below the price of the biggest ever block trade.
    I'm not budging from my ultra-bullish stance on Xebec by one iota, but the very short term outlook has clouded over. This doesn't affect Xebec shareholders with a "buy and hold" attitude, not in the least, but certainly it does those with a shorter term outlook. Those who dominate this board. Facts are facts. You can't take hope to the bank.
    Xebec might easily redeem itself and come roaring back with a vengeance, as it has after virtually every setback in the past, but I'm having trouble devining the outcome of this new headline grabbing event, and its ultimate effect on the markets. I've often said here that the only thing that could derail this market is something right out of the blue. Covid won't, it's ancient history. The short squeezes costing hedge funds billions isn't history, and it isn't going to end well. When retail investors decide to sell their Gamestop and company, whenever that is, who are they going to sell it to?
     I've mentioned here before that I had prepared my friends to lighten up between $12 and $14, in the short term, as that's where I thought this was headed. I've since admitted I was wrong and told them they may well have to wait longer to reach those levels, while these things play out, which they will.  Certainly, many have been shaken out, and yet I get some sense while reading this board that there isn't a great deal of acceptance, or even expectation, that this stock could easily go a further point or more lower from here. I honestly don't know, but I'm not ruling it out. Nor should you.
       The long and the short of it is this. It's very possible that Xebec, in its usual fashion, will come right back to make new highs in a matter of one or two weeks. On the other hand, there is a real possibility of continued weakness, if we close below the January 4 close at $9.52, a level it has held since then, despite being broken intraday several times.
      My suggestion is that at these levels there is absolutely no sense in even entertaining thoughts of selling, unless you are a day trader. However, you should be fully prepared to accept any further weakness we see going forward as being temporary. This stock is a screaming buy, but the market right now is on tenderhooks. You might be better off not looking at it for a while.