Carmine, as of the close Monday, I am looking at buying at 75-1/2, hoping some profit-taking takes it briefly to that point just long enough for a limit order to fill. I'll decide Tuesday morning, but I'd like to pick up a long position tomorrow, as I think todays move will carry through at least a couple more days. Not sure yet when I would sell, but in my humble opinion, anything above 82 in December is going to require an abundance of momentum.
I say this because for most of May and June of this year the shares traded at +82, alot in the 90's and some in the 100's. Everytime the stock gets in that area this year, those people that are holding from those levels are probably going to cash in and get their money back (and be very glad they got the chance). This fits well with why we have had two runs to 81-82, and both times the share price was sent packing South in a hurry. I'm hoping that those holders will sell out and take the loss for tax purposes this month, so we won't have that "overhead supply" so impede the climb.
Now you know where I stand anyway...
Dwight |
