I like everyone else (or most anyway) didn't sell before the merger deadline extension, and still haven't sold. I am kinda kicking myself for not taking a little off the table, but it's an easy call now for a Monday morning quarterback. I HATE seeing big red days, but I have reminded myself through the course of the day why we are red.
1) The chart was set up for a red day, I mean we were close to a 1000% up from the last real bottom a month ago.
2) Day traders always sell on the news. I think even if the merger were announced complete, we probably would have had a down day.
That being said we closed down 23%, that sucks, but it's not terrifying. It's not like the chart collapsed, or that we were given horrible news. On the contrary, the merger is still happening - and no one seems worried. Another remarkable distribution agreement has been announced - cool! things are still moving along.
Chalk it up to.. one of those days. Tomorrow looks greener already.
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