Post by
tamaracktop on Jan 30, 2021 9:57pm
Ringing the bell Monday morning
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.
Comment by
Xebecguy2020202 on Jan 30, 2021 10:10pm
Well said TT. This gamestop situation will linger. I fear that RH may end up costing many retail investors lots of money which will move the market. My suggestion to those who are in long game is to have more $$ available. Buying opportunities here and elsewhere will be available. My opinion only. GLTA
Comment by
ZouZS3 on Jan 31, 2021 12:07am
Woww very well said but scary at the same time. I mean how low can we expect to go. I hope it won't be as bad as in march cause if this is the case I'll have to pull some on the sidelines. I mean still have until march before I need some of my money invested. The way you're explaining this sounds like the very short-term but the impact sounds devastating. I'm kind of confused now
Comment by
Xebecguy2020202 on Jan 31, 2021 5:52pm
Just to be clear. I am not selling. Only adding into weakness. GLTA
Comment by
Newtrader1982 on Jan 31, 2021 12:29am
I would be shocked if xbc dropped another point from here personally I just don't see it happening although I am not ruling it out. With ballard, fcel and plug all holding up well I just don't see any reason why xebec would decrease any further if it does I won't be selling a single share I know that much.