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Wednesday, July 20, 2016 8:10:26 AM
You are missing over half the story. True, supply overwhelmed demand but what magnified that carnage was a coordinated bear raid of naked shorts.
Yesterday you stated this,
“It has always been my contention that the "science" will always turn out to be the most important factor over the long haul...Not theFDA, not the TA Charts, not the market makers, but the science.”
-I happen to think it is dangerous to ignore the other dynamics at play, not the least of which is this incessant, coordinated effort to kill this stock by hedge funds.
-The science is wonderful and hopefully it will prevail, but so far it has failed to rescue shareholders from the catastrophic plunge you mentioned. Point being, TA must always be in sync with fundamentals for a favorable share price to result. Remember.. “Price is King.”
I owned many shares of ENER (Energy Conversion Devices) a few yrs ago. The company had cutting edge innovations which were patented (they had the "science"). They were going to wrap roofs with thin film solar panels – commercial and residential – all across the nation. “Phase Change memory” was going to supplant flash memory, their batteries were going to power all domestic hybrids, and they were on the cutting edge of fuel cell technology. Why didn’t they succeed? China subsidized their competing technologies - beginning with solar. Oil crashed and flash memory prices dropped. Obviously the ravenous short wolves smelled blood as revenues weakened. They needed a buyer (money) but nobody was interested because of the competition. The stock price got killed and they declared bankruptcy. I never dreamed it would happen but it did.
“Anything can happen and usually does in the stock market,” thus one should never fall in love with a stock – no matter what. "That's a 'doh'"
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