monkey see monkey do, page-3

I believe today's problem with the stock was brought on by one thing, and one thing only, day traders with tight stops. No faithful investor would have sold off today if they were in for the long term. Fundamentally ESI changed from a minnow to a potential power-play in the industry on Friday afternoon. There would be no reason for long term investors to dump the stock so heavily.

So, where do we stand with the day trading fiasco. They have to be washed out. And this takes a few days to happen. T+3 means some might cling hoping for the stock to go up on the technicals tomorrow (double bottom will be confirmed if we open higher tomorrow, however this is unlikely because of downwards momentum).

I know I yarn on about it alot but just have patience and you will be rewarded. Last week we were building up with anticipation and the ESI faithful would have hoped for a 15% gain today, not the opposite.

Just looking at the chart I'm watching for a bounce on Friday I think and then we should be on our way with this unfolding story. Just gotta ditch those annoyingly pedantic day traders who only follow the stock on its way up and dump it on its way down.