Wednesday, May 20, 2009 11:35:24 AM
I know this, i rent from blockbuster, and with sales over 1 billion dollars so do many others. I drive by my store every day and see people there, movies out of stock etc. The company has a high gross profit which is good, if they need to they can trim fat and make profit.
Right now, people are thinking, eh do i want it or not.... maybe, maybe not. But i saw alot of shares soaked up on "terror news" as i call it. So we have alot shares sitting in hands that are likely waiting for a 1-1.2 range to let loose again. I'm holding 80 cent shares and will be patient. If it hits 50, well heck, ante up some more. I think 7x should be bottomish but who knows. I do know that when all the shares sold have been sold it'll go up because only the buyers exist, and once it gets on a run then you can bet the chasers will come out just like greyhounds after fluffy.
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