In denial....
I am a long term investor into GTE and have been for several years. I love to read all the rationalization that is being posted since the "killer" PR was released one week ago. I read such things as: We're going through a consolidation, daytraders are still playing this keeping the s/p down, price going down because of those naked shorters, I plan to buy more or double up as the s/p goes down, volume drying up and s/p going down, just one more blockbuster PR and we will go to the moon, etc, blah, blah, blah.
C'mon people. GTE just told Wall Street that they have signed a "binding agreement" to be paid $600 MILLION over the next 27 months, and the stock price more than doubles in one day and has since done nothing but gone down!
YOU GUYS ARE IN DENIAL!
Either Wall Street doesn't believe the deal or something else more substantial is going on. I suspect it is a combination of many things, but mostly major investers don't believe GTE.
The bottom line: since Monday, there are more sellers of the stock then there are buyers! That is the pure and simple reason the s/p is down and going down! And why do you suppose, with all the good news and potential good news, investors and traders are SELLING rather than BUYING?
That's a question that shareholders IN DENIAL really need to ask before coming up with those numerous other bogus excuses!
Just my 2 cents worth!
AI
