tamaracktop wrote: No amount of speculating or hand-wringing or hoping is going to change the outcome here. This is what the market does, always has done, and always will do. This is the market. Be serene, have conviction, and live with it. Either that or drive yourself nuts agonizing over daily moves.
There are 2 measures to describe a correction, amplitude, and duration. We won't know either until we're looking at this in the rear-view mirror.
Guessing the low is just that. Guessing. Certainly, we can look for signs of it, but we can do zero to hasten its arrival. The low may be far off, who knows. We can guess the amplitude of this correction, but the duration of it is far more elusive to effectively speculate with any measure of assurance.
The low might be characterized by a capitulation sell-off on a few million shares, or by a sharp intraday reversal. only time will tell. No amount of hoping will hasten its arrival, but we know that it will come, as sure as the sun will rise.
I completely agree with the strategy of waiting for real evidence of a resumption of the uptrend at the cost of paying up for the stock, but invariably people try to guess the low. That's why there are always bids as the stock hits lower prices.
The fact is that while most people won't nail the low, the lower the stock goes the closer they'll be. Duh!
During dot-com, I saw many lose 60% or 70% because they tried to milk a stock that had gone from $9 to $189 in a few months for another measly 10%. The stock was BCE Emergis. Pigs get slaughtered. The same was true of Enrust, which went from $5 to exactly $150.
The point here is that the reverse is also very true. Buyers on the sidelines who are waiting to buy a stock if it drops another 10% often get left behind. They lose out on making 100% because they waited to save 10.
This is Xebec. It's going to be here longer than you are, and it's not a company in its twilight years. Just relax accept that what's happened is history, and there's nothing at all you can do about it. The stock will continue to trade and work itself out whether you watch it or not. Recently I suggested it might be best not to scrutinize it for a while. That suggestion still stands.
You'll be glad you did when we come out the other side.