Voltaire, I presume you bought CMRC on the open ($16.5?), but I have not seen a post from you suggesting you might have sold it or if you plan to hold it and for how long. I myself sold CMRC at $17 on Friday, this time for a loss of $1/share. What are your intentions, do you have a max pain points at which you decide, the move might have been premature. CMRC printed a new yearly, low, and my own motto is "New lows beget new lows", so I know have a downside target of just above $10 (probably in late May or in August if this market does not show a back bone before that). What does your crystal ball show?
Zeev
PS: I still think that the September 17th scenario I posted here is, in general terms, in effect.
Jill, my plans differ slightly, I have "get out no later than mid November" (maybe a little
earlier), back in for the year end rally (second to third week in December), and out
again, probably at the end of the first or second week in January. After that it is cloudy,
maybe a bounce reentry early in March to late March, but not in for what I think will be a
second massacre of 2001 in May (the first being during February, which may lead to an
extreme bottom late in Feb or early March). I also think that the group of stocks that will
participate in "bear market rallies" will become narrower as we progress during the year
2000. Right now, I have a "broad range" of a bottom in late June to mid August (too far
out for better forecasts and too many things can happen between here and there).
The only problem with that forecast were the actual numbers, I was much too optimistic as to the lows in the February/March massacre, mostly because I had a much stronger bounce planned (I did not know the elections would be so close) |
