Well, not a bad day today, they did try after all to drop it, but to many bid sitters in the afternoon they had some luck. People live by those headlines and they come fast and furious anymore, one writer do up a quick piece then another throws 1 together and 30 different blogs, posters tweeters etc got it spread to the ends of the earth in 30 minutes, the sky is falling, ha ha.
One company or two have 1-2-3% same store sales off stocks in the sector are sent 20-30% down then 10% the next day, crazy world. QD that thing every time China trade ware news is hyped around the net every 3-4 months they send that dropping like a rock and it does business only in China and been one of the fastest consistent growers in the market LOL. Then today it bangs back, good to make $$ I reckon but really think the whole news hype is so overblown, but I guess its needed to keep stocks going up and down, that is the new thing.
Every 8-1`0 years retail sector does this and you can pick out 1/2 a dozen those that you can invest in for the long run for the turn around like this one, PIR in 2009 was, and you can play 5-6 others for the bounce that is coming, especially the old dogs like SEARS GE etc, they don't just disappear right away they are in the throes of death for at least 1-2 plays where you can make a small fortune. Painful these times in the market but wildly profitable if you can pick through the heap.
That's why I love this stock, you got 3 guys on SA that hate it chat to themselves about it on SA and run it into the ground, because the sector is and the normal cycle of retail and this which will be one of the survivors is incessantly hit. They just never know when to cry uncle, other boards around the net they scream scam/bankruptcy I mean where do they come up with this stuff? This if one looks at this with an open mind realizes the situation one can see its easily one that will climb up and give it a go, making it back to 4-5 within 12 months if everything they are doing follows through and from where I sit it is and can.
It is a new generation, follow the herd, the algo and the headline, forget the numbers etc, they are wildebeest going from water hole to water hole with the migration to new grass lands.
I used to say this on AVMXY and a dozen others including PIR as it struggled to get back to over a dollar in 2009 at the end of long winded posts I am known for, they are chasing the dollars and chasing becoming rich.
As a wise old trader that taught me too much on Raging Bull when it was the Ihub of the day in the 90's,
Its easy to become rich but hard to stay rich.
Its harder to become wealthy, but easier to stay wealthy, it takes smarts, fortitude, time and patience.
Everyone have a good night.
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