Post by
ZouZS3 on Mar 13, 2021 12:05am
Three Day Rule
Investors always want to buy a stock that gets knocked down sharply.
Day 1: The smart, big money sells.
Day 2: The semi-smart, kinda big money sells because they see what happened yesterday and realize that it's prudent to lighten up.
Day 3: The not-so-smart, small money sells because ... they've been watching the carnage over the past two days and have been largely frozen. And after two days of declines, they can't take it anymore. So they sell!
A big selloff rarely lasts more than a couple of days without a pause.
The big selloff has already occurred. So you may be feeling some pain, but that pain derives from a move that's behind us. The real question to ask is: How much further can my position go against me? Often, you'll find you would actually be looking to buy a stock if you did not already own it.
It rarely pays to sell when the pain is the greatest. And it often pays to buy when someone else's pain is the greatest.
Comment by
Newtrader1982 on Mar 13, 2021 12:17am
you do realize this has been selling now for much longer than 3 days. This is a sell off on top of a sell off. 11 to 6.80 is 38 percent now followed by another 20 percent.
Comment by
westcoast1000 on Mar 15, 2021 12:29pm
Zouz, Do us all a favor and calm down. Saying you hate Biden, for example, is annoying. Saying you want a buyback is simply desperate. You will be happier if you shut off your computer, spend time outside, and think about this stock as a 2-5 year investment.
Comment by
fdfd12 on Mar 15, 2021 12:33pm
I agree ZouZS3. That is the phyco of the market. Others do not understand this. That is what I wrote before with a basing process at $4.50-$4.75