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Thursday, October 24, 2013 9:34:09 AM
I am also aware of stock market psychology. The majority of the people are wrong 100% of the time.
I would expect the price to flush deeper than most think creating doubt to even the most loyal. That's what the market does. And just as you throw in the towel out of disgust, anger, fear and the fact that your equity in the company was slashed by a Huge(there I go again) amount... the stock rebounds. Those who sold their stock realized they made a mistake and they buy back in. All of a sudden with the addition of new investors (because the stock is so cheap) there is a vacuum effect and the price rises. Add a positive news release at this time and the action can be parabolic.
I guess the bottom line for me is... I would not be surprised to see the price get flushed to a painful point in many of our minds.
This my opinion as well as an anecdotal experience.
I do hope I am wrong... and would be happy to admit that in the coming days.
Go EDXC!
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