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Wednesday, February 26, 2014 5:59:34 PM
This chart is looking really nasty. It closed below the 200MA and I think it will be going further south.
I have been in NTEK for almost a year, but I got out today. I believe in NTEK as a company and think that, fundamentally, they are lining everything up and doing incredible things. That being said, the market simply doesn't care right now about those accomplishments. Everyone in the market, including the bashers, knows that the NP-1 is coming out soon. I'm not sure that the NP-1 being available in a few weeks on NTEK.com or other websites will make that much of a difference in PPS. The market knows the projections for this year, they know the NP-1 is trickling into consumers hands. They know about 4K studios, etc. Despite that, the market is speaking, and the price is falling.
NTEK suggested that they will be announcing brick and mortar locations for the NP-1 in two months. I think that once the common person may run into a NP-1 at Best Buy, then we may have major gains in PPS, as a whole new segment of investors learns about NTEK. Until then, while we still have a slipping PPS despite knowing everything positive about NTEK, we will continue to have "longs" prop up the share price in hopes that new people will come to buy their shares.
I am still long at heart for NTEK, and think NTEK is a great play for someone who wants to buy shares and not look at the PPS for a few years. However, I do think that NTEK will be going further south for a while until it finds its true bottom.
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