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27,521 Posts.
3270
06/03/08
12:35
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there are a lot of companies out there who have great resources and are greatly undervalued.
Have we forgotten that the market is an animal that can turn, and fear of losing more can be the driver.
Just people tripping over themselves looking to exit. Stop losses?
I would wait till the close to see where it settles.
The panic has to settle, before people will acknowledge that the fundementals will drive an uptrend.
Then again, Fundementals should do a lot of things for a lot of stocks.
Right sector on its side.
If it breaks 2.00 watch out below, but would think that any buying into this frenzy would be well rewarded long term.
I think it is the traders running for the hills, and sentiment may have turned a few nervous hands as well.
Good luck
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