I am long on CDNW, but there is a definite chance that the stock will trade sideways for a while. There is low volume as well as many enthusiasitic folks with shaky hands whom MM would love to exhaust in order to buy back their shares at these low prices.
Only a few months ago CDNW hung around for quite a while at 7, before it jumped up. We may be establishing a similar pattern here at 14. My sense is that there are traders who would like to make a quick profit on CDNW; I have nothing against that plan, but I don't mind waiting around--for a week, a month, or even until June/July--before I see my patience rewarded.
In my experience, relatively quiet stocks do a massive turn-around when you least expect them to, and waiting it out has usually proven to be the wise plan. Like many others here have said, how low can CDNW possibly go? If it does go lower, I'll be there to add up for some future profits.
Let's keep thinking positive,<g>
Rommy |
