My apologies to you all.I was off a day. I hope.I still have a full position in this stock, and will probably keep it.If the company could have managed to have some increasing revenues for the quarter, it would have been nice.I am not a shorter, I do the harder thing called making money long.What I think we have here, and tomorrow will determine the truth of the matter, is one of the meanest Morning Star Candle Formations I have ever been involved in.OK, for those of you who wish to learn a little, do the following:Find a charting service. Set up a three year chart for this stock using Candlesticks and a log scale.Notice the following:Today's price is about the same price level of the knot of action after this stock broke out from its basing formation in May of 2003. That knot is an extremely important pivot point, and the Elephants today touched its base. Significantly, like with an 800,000 share day.Digression:Consider the company at the point in time of that knot in 2003. Did it have an established track record of a profitable product? Did it have an excellent management team with cash in hand to give its stockholders a back door dividend called buying up outstanding shares? Did it have bunches of new contracts and new venues of profitable ancillary business in the works?..... Isn't this business now much more solid than it was then?Back to the chart: Draw a straight line from that knot through the low point of the price action in September of 2004.The failure of that trendline at $20 in March of 2005 was your clue to not be long in this hummer any more, and to bide your time to buy again.I believe that this is about the time that this stock was posted by the Fool as a buy.In hindsite, no Technical Charter worth his salt would have held this stock past February of 2005.This stock is one of the most powerful small caps I have ever seen, but it just now paid the price for going from $3 to $30 in the space of a year.My purpose in writing is to say that those of you who managed to retain your position after today have a really strong investment fortitude, and I admire you for it.Hang in there, because IMO the worst has been endured. The part I really hated about today was the AP news flash that the company made the "analysts penny" but reported decreasing revenues. If such a news flash wouldn't cause all the individuals holding shares in this company to sell them, I don't know what would.After all, the purpose of the Elephants is to capture your shares of stock as cheaply as possible, and once a company has become established, they will encourage its price to fall to ridiculous levels.They have years in which to build a position, and they know you and I really hate losing thousands of dollars at a time in a millisecond. Today they certainly did their best to spread terror and confusion amongst the faithful.The Old Fool;Dave
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