MBF,
You stated.
"That's the point pphmlover:
Even if it does recover, this stock will likely have left a new group of retail traders bloodied and bruised. Managment knows exactly what happened yesterday. Hell, this stock could be $5.00 next week and we'd all be smiling and having fun. But we'd have a whole new stock of joey_boots and realists born out of the resentment that's created by such moves. This managment team has ZERO regard for retail. They continue to treat them like a cash crop."
And prior to that in a previous post you railed away at management and said you wanted to head to Tustin with a baseball bat.
A question for you? Are you a professonal trader? You seem to know all the formations, the fibinacci retratement levels, support and resistance, etc. But when you start railing away that manipulators and/or management are screwing things up for the poor little retail guy, I have to wonder. Trading's a zero sum game. For someone to win, someone has to lose. After the public offering that provides funds to the company, speculators, investors, traders, etc. buy and sell stock with some losing and some winning. It's crap to be the weakest guy on the food chain, but someone has to do it. I know, it used to be me. But it's not anymore. I've learned from my many mistakes in my many years of continuous trading and I now take responsibility for my actions. So, I find it somewhat disconcerting when management gets continuously blamed for screwing over traders/investors.
Sure, there will be lots of folks who showed up in the past few days because they saw PPHM on a scan and decided to jump in. There are undoubtedly many other long term investors that chose to jump in and out based on the past couple of days actions (greed/fear). And I know there are many long term investors that got in a long time ago and are currently underwater. Now, if I make money off of these people trading short term or trading a long term position, is it managements fault or my fault because I've studied trading and TA, and professionally traded for many, many years?
I use multiple level II screens with 1 minute, 2 minute, 5 minute, 15 minute, 60 minute and day charts at my fingertips. I continuously monitor nasdaq, NYSE tick, trin and Vix. I have multiple time frame charts of SPX and Nasdaq continually up on my screens. I have sector strength indicators. I trade with the market and the strength in sectors. I use MACD, volume, and RSI. I also scan all my charts at night on TC 2000 looking for divergences in moneystream and BOP. I have direct access trading with split second capabilities. I don't have Level III access like the big boys. And, I don't have their bankroll. So, I'm a weaker fish too. So, I need to find other weaker fish than me to take money from if I'm going to prosper. That's just the way it is. Thank God there's plenty of weak fish out there. It makes my job easy. But, the fact that they're out there ain't managements fault.
When it comes to long term core trading, I also do my own science, financial, facilities and management DD and I look at TA for entry/exit points. I don't just show up and start throwing money around. Again, it's me against everyone else, eat or be eaten.
Having said all of this, I find it odd that you, a knowlegeable technical analyst would blame management and rail away as a champion of the retail investor. Doesn't TA teach us that the volume and price action will tell you what's happening so you don't have to believe the talking heads on TV, believe management teams that try to weave their own convoluted stories, etc. Instead of making up your mind in advance about what should happen (ie. timing of PR's), you can look at the data and "go with the flow". Does management give a rats ass about the Russell index? Heck, I don't know and I don't care. Gotta go with the flow.
To me, traders and investors are the same thing - just with different time frames. I intra-day trade, swing trade, and position trade (or invest). One thing that annoys/amuses me on this site is that everyone seems to blame management if they are not managing the stock price to their own expectations and needs. Lover bitches about the daily movement of pennies. Many have said they'll be out at $2 and some have said they want $20 or more. These are all very different objectives. Yet, it seems like managements to blame for not looking out for everyones own personal agenda. But this is not what managment is tasked to do. So where's everyone's personal responsibility?
As KT keeps saying, management needs to perform to their stated business plan. Personally, I think they've done a fairly decent job in this regards. I've owned stock in this company since 1996 and I've never felt better about the progress, status and possibilities. And, the guys that have gotten us here aren't the ones who did a R/S 80 years ago, they aren't the ones that did repeated death spiral financings, they aren't the ones that messed up the TNT China deal and they aren't the guys that couldn't get Oncolym to the finish line first.
Prior to becoming a professional trader, I ran several cash strapped business startups. I know it might be a difficult concept to grasp, but managment doesn't walk around daily thinking about the personal needs of their individual shareholders. They can't. They need to figure out what's best for the company, how best to finance the operation, where to allocate resources, etc. I've heard so much garbage spewed about King's "we're in talks" comment with people asking why we haven't licensed Oncolym or something else. Well, I'm here to tell you they can't do everything. They have to pick their battles. Again, I personally think they've done a good job of this. The three phase II trials, Avid expansion, a DTRA contract, support for free work at Duke on anti-virals. Kudo's to the guys from my end.
Anyway, sorry to go off (and this isn't aimed at you personally - it's the collective thought), but I'm so tired of hearing the whining on this board that "management doesn't care about us", "management's incentives aren't aligned with us", blah, blah, blah. Grow up folks. Take some personal responsibility. And when you decide to wade into battle, understand that there are going to be many folks more intelligent and equipped than me that are going to be out there looking to take your money. And I will be too. I might be sorry that I have to take your money - but in the end I will.
From my end, I'd like to wish continued good luck to the management team. I'm hoping/expecting some great things over the coming years (that's right years). Godspeed. To the rest of you - don't wade into the waters unprepared. There's sharks out there. Just the way it is. And to all the faithful longs - good luck folks. I think we're getting close.
Regards,
WH
AI
