<<Has our friend Pancho jumped ship, or has he just fainted from the stress?>>
No, Bruce, I doubt whether Pancho has jumped ship! Ya, perhaps fainted!!! Or probably immersed in 10-K's/10-Q's to determine what the heck went wrong!
All kidding aside, Pancho is no doubt very unhappy about this situation and probably tied up with other things! But I'm sure we'll hear from him with some financial comments.
On the other hand, where I thought the next level would be 25, I checked out the yearly CLOSINGS on both a weekly and monthly basis and there is big double bottom support at 27 1/2 - and prior to that the 25 suport comes into play.....the bad news is that if 25 doesn't hold, then no support until the 18 level. (IMO)
So, what I see is that we've tested the 27 1/2 level and it has held.
If we can close above 27 1/2 tomorrow, this should prove positive and recovery could take place barring no further negative news.
Normally the day before expiration, the market can be crazy but usually more quiet on the day of expiration. Today was a bad day, hopefully tomorrow will be better.
In any event, I'm a buyer at 25, also...and I, too, hope for a big rally in CNTO in January. Thanks for your comments.
Pancho, wake up! (Poor guy must have fainted!)
FNS
|
