There have to me some massive sellers...

[M1DD]

There is absolutely no price support. There has to be some large institutional sellers and/or a MASSIVE lack in buyers. I'm extremely frustrated.

[kshen]

There's no longer a short term solution. I've taken such a huge hit on my portfolio it's going to take years to get back on track

[Mountainbiker]

[quote='kshen' pid='42002' dateline='1397496379'] There's no longer a short term solution. I've taken such a huge hit on my portfolio it's going to take years to get back on track [/quote

I think it will be mush sooner.......

[kshen]

Fact is, NQ has been majority hype, that's why the sp is so weak. forward peg means nothing if their eps never improves. Their business model is currently acquisition by dilution, and institutions are not into that. I'm well aware I'm panicking like crazy but there isn't a whole lot of upside on waiting for an 'audit' and 20-F that has been on the horizon since 6 months ago

[Fundy_]

M1DD - You have to remember that institutions are generally working with millions of shares themselves. They don't move the price, because they either buy over a period of days / weeks or they sell broker-to-broker block orders at a specified price. If they created a position or dumped a position with >5% of the float in a single trading session, they would lose millions in either direction. They would either shoot the price up and have to pay far more than they intended, or they would drive the price down and make far less money selling their shares. This movement is almost certainly caused entirely by retail.

Kshen - I doubt that. All of us longs are betting on the audit coming back clean, and that position has not changed, any short term day to day price is irrelevant to the long term outlook. The audit will be released within 2 weeks according to NQ, and that should, at the very minimum, bring the price back up to the $18 level. I admit that it is a bit hypocritical for me to say this when I sold my shares last week, but I only sold them so I could take in a small profit and purchase more shares at a lower price, not because I thought they were going to zero. Unfortunately the combination of the market, NQ sentiment, delayed ER, missed estimates, and no independent audit, all combined together to brutally beat this stock, but just remember that this price is only short term.

[Fundy_]

Just a clarification to the post I made above, I am not claiming that institutions are not selling, but rather that they are not solely responsible for the massive drop in price. As I mentioned, they generally buy / sell over days / weeks or in large broker-to-broker block orders. They lose millions if they change their position in a single trading day. So, to summarize, institutions selling is a possibility, but pure speculation. The large volume could also signal a huge number of changed hands via retail investors. I know many longs have gotten frustrated and I know of many people who have been interested in NQ for months but did not like how high the price had gotten. The drop is almost certainly caused nearly entirely from retail, but institutions are possibly selling as well, there is no way to know unless we see another 13GA filed in the next 10 trading days. Personally, I doubt any major institutions are selling based on the ER, it's highly unlikely.

[M1DD]

Fundy_ - I like the optimism, but I think you're dead wrong. Retail could not have pushed the price from $18-$9 in a matter of days. There is no institutional buying support and definitely seems that there is a massive institutional sell-off going on.

[pwalk]

Ironically, the little support the stock is getting today is probably coming from the shorts buying back their bets. They have made a huge return in a matter of days, would be foolish not to take some off the table. Institutions selling, shorts buying.

[pwalk]

And the sad part is, if NQ gets its act together, a lot of the selling institutions will have moved on to other stories, with no interest in buying back into NQ.

[Mountainbiker]

And the sad part is, if NQ gets its act together, a lot of the selling institutions will have moved on to other stories, with no interest in buying back into NQ.

The longs are selling while I am adding........Focus on the facts, the shorts are forcing the SP down to cover.