Surprised by AMED's 16% drop today...?
I guess I'm not.
Remember UltraLong's post Help, I've fallen and I can't get up from July 22nd?
This is what I said in comment# 6 on that post:#6) On July 23, 2010 at 11:52 AM, dragonLZ (99.30) wrote:
In my opinion (which is just that: An opinion - not based on any scientific data), AMED will have a big one-day drop (18 - 30%) between now and the end of the next quarter.
Very possible that the samet thing will happen to AFAM.
Way too risky for my taste...
I do realize today's 16% drop wasn't as bad as what I was expecting, but imagine what would happen to AMED if we had a negative 100 points day on the DOW today. I'm sure they would easily be down more than 18%.
I also do realize AMED is still slightly higher than UL's bottom-call price, but I'm sure today's drop was hard to swallow even for the people who got in at UL's $22 price.
Here is AMED's chart showing what happened with this stock since July 22, 2010:
I keep telling UL to stay away from these garbage stocks, but he just won't listen...