Stan--a few more thoughts. Even though I bought some Rsys yesterday, I did it when it 1st dropped, thinking it would pop up for a day trade. When it didn't, I felt that it might just keep succumbing to profit taking over the next few days, which usually happens after a run up over several days. Looking at todays action, I think that 45 might possibly signal the next (or close to it) bottom it would have gone to ANYway, had Greenspan not spouted his manipulative comments last night.
Even though there are exceptions to everything, (especially in the market)I have often seen that huge gains or dumps that happen at market open or close (those nearly instantaneous ones) often set a trading "range" for the following few days. Theoretically, Rsys might see 44-45 over the next week, then start heading up again. If so, what will really be interesting is whether it will break past that 52 resistance area.
Then again, if the market decreases its losses significantly after Greenspan (on now) and stays "up" (from worst lows) at close today, Rsys may continue to move up from whatever it closes at today. The only other thing I would worry about is more negative news regarding the former employee's lawsuit, like if the SEC would begin a "formal" inquiry into the books. It seems that would have happened by now, though, if it were going to, doesn't it?
Dow down only 53 now as compqared to 149 this morning--what a bunch of crap--someone out there sure picked up some killer bargains at the expense of the poor suckers who panicked and sold at open today!!!(I'm jealous). If my theory is correct, it may work for the market in general, and the dow and NASD may drift down to the equivalent of what they regurgitated out this morning! Sure is exciting! KEEP YOUR HEADS, EVERYONE! Later, marie. |
