I hear you..........way back when the raid occurred I became stuck with 800 shares at $53.17after making a couple thousand on the initial gap lower that came up several dollars right away........this position I've been stuck in for several weeks has been anywhere from down 20 grand to down only 4800.00 . I thought OH BOY when that halted news was announced a little bit ago......................I think though if your going to be in this game and are going to make a living you have to be ready to analyze what data you have quickly and jump in when that thing suddenly plunged like it did today...............If GOOG suddenly plunged to 257/share would you take some in the middle of the day like this......or would you be afraid that by tonight the headlines would be explaining how the company has had fraud going on and is going to turn in to an ENRON?
If GOOG suddenly plunged to 257/share would you take some in the middle of the day like this......or would you be afraid that by tonight the headlines would be explaining how the company has had fraud going on and is going to turn in to an ENRON? GOOG isnt under suspicion wcg is and if wcg takes big dumps you either get out then or on any small rallies...Holding wcg is pure gambling/rusiian roulette...Since its rallied more than 100% off its low i would assume that its going to retrace a lot of that rally....That rally is a great exit point-a gift....You should have bot more at the 20 level if you wanted to gamble....if you wanna hold this maybe DUMP HALF your shares....Ive lost lots more money than 20k hoping for a pig to recover(several times in fact)...I dont want to tell you what to do because you might be a better trader or have better info but thats just my experience and opinion.
Does look like "fat finger" when you look at the chart. Trend line indicates that WCG fell with the overall market. For what it's worth, Jefferies & Co. came out with a "buy" recommendation.
Your right dsg about wcg being under suspicion when this second dump occurred yesterday. However, when the first dump occurred on the day of the raid it was a good company as far as any of us had known and was trading at all time highs that week 128/share. Now, with the GOOG statement I wasn't trying to insinuate that WCG was ever as good a company as GOOG just that it had been in good standing like GOOG is now>>>>>>>so how do we play sudden plunges in good companies.............and your right that on the dump yesterday......that was probably people that had waited and picked the VERY bottom saying "this thing has come up quite a bit and its a down day>>>time to sell. " I'm probably wrong but from my years in the medical field I don't believe they will be put out of business or even restricted much(make get huge fine) because probably not many other insurance companies dying to get that lower margin business How should we play sudden plunges peope???? As the minutes go by your limitted info. becomes more complete.