ON THE CATWALK: CPQ/WDC/FEET/SCUR
Allan,
SCUR signaled yesterday.
Technically, WDC was disqualified from signaling because it gapped at the opening yesterday. Granted, it was only like 2.7%, but after my experience with FEET (tried to play it on a "new low" created by a small gap) I ain't gonna study no more gappy kitties. That was the second time I had to learn: tried it with DANKY last October too, with Doug R all over me for it.
If that's gotta hold for WDC, it's also gotta hold (DOUG!) for CPQ, which gapped 6% at the opening yesterday. Granted, yesterday's opening was a major market headfake all the way around, but rules are rules. (All said and done, if I'd played CPQ on Wednesday, I would've broken the rules yesterday, without a doubt.)
But, "rules are rules" is all the explanation needed for why FEET, a company on the throes of financial ruin, and which signaled by a mere 1/32, did up to 33% yesterday.
Doug, you did a good job putting in those rules once upon a time.
Ivan |
