MetroPCS Communications, Inc. (PCS)

[bowonwing]

I did not mean to imply waiting for the "bullish signal" at $13 if you are considering purchasing PCS stock. Technically PCS is a "broken" stock right now. You have to use your best judgment as to a price buy point if you are considering buying PCS right now. I would agree, if you are considering purchasing PCS stock, the time to do it is before it gets to over $13.

All I meant was that using the "50% principle" on the P&F chart the halfway point back up on the low pole is about $13. If and when PCS can make up about 50% of the low pole, technically it would be extremely bullish for PCS, and the sooner the better. That is all I was trying say, not to suggest a buy point for the stock.

Re: "set-piece," from my experience when the institutions want to distribute a stock they usually do it slowly, so as to not create panic selling, unless there is some strong reason to get out of a stock quickly, at all costs. IMO there was no "smoking gun" in PCS' Q2-11 results that justified "panic selling," causing it to lose over 40% of it's value, but that is what it did. PCS still earned $0.23, has about $1.85B in cash and gained almost 200K subs in Q2, for a total of almost 9.1M. PCS has gained almost one million subs in six months in 2011 and yet the stock is almost at a 52 week low after the sell off. So Mr. Market is saying it does not matter that PCS has gained over one million subs in the past year.

Still "the market" is always right. This has been a vicious sell off. Moorman at S&P reduced his price target to $16 from $23 based on higher chun and lower margins, so maybe that was part of the reason for the sell off in PCS.