Re: Another crazy week....
in response to
by
posted on
Mar 20, 2020 08:28PM
Up to Friday February 21st the broader markets were still doing okay....the DJIA was up around 29K, now its less than 20K better than a 30% drop.
So many solid companies, dividend payers with rock solid balance sheets have been hammered. I just pulled up Pfizer (PFE) to see what's happened there. Over $35 on Feb 21 and now down to $29.01...off about 17%, and the volumes have been higher than normal of late. Facebook from $210 to $150 for almost a 30% slide. I could check more but what I'm seeing is much heavier volume than normal for these seeming bargains.
Resverlogix over the same time? From around $1.30 down to today's $1.01 for a drop of around 22%, which seems in line with the broader markets....but our slide didn't start until the 11th of March as the news really ramped up....I doubt there were any GOP Senators on the intelligence committe who were holding Resverlogix and then dumping after their briefing on how bad this Covid 19 thing was going to get.
What really stands out to my eyes is the volume, or rather the lack of volume. During this entire period between Feb 21 and today we haven't seen a single day of 1 million trading, which would only be about 1/2 of one percent of the outstanding share count. Our highest volume day was just 323K on March 12th. We've only had three days of 200K+ trading over this timeframe....and a full twelve days with volume of less than 100K.
This tells me that while the guppies might be scared and selling, the tuna, sharks and whales are holding tight.
Stay safe everyone...worrying times, but Resverlogix doesn't look like its something I need to be concerned about at this point. Frankly I'm more worried about running out of TP at this point, I didn't stock up....and what is left here will last another week or so. I went shopping today and was going to buy some, but too bad so sad...it was all gone.