Hi Crossy, long time no see. Welcome to our modest abode, I am sure you are going to be an excellent addition to the various contributors here. But let's start with the doji's, I see only one gravestone doji on March 6 (indicating the end of the minor counter trenda advance from the low on March 1st. Since then I do see two gap down (and expect a third exhaustion gap tomorrow), but these are straight "black candles" are they not?
I do expect a run up, but I still consider that a counter trend rally (and because we are starting to see panic, maybe even a nice size rally (I still have about 2650 quite rapifdly , possibly by April 18th or so). After that, however, I expect to retest the bottoms here (maybe the naz just a marginal retest, but the Dow going under 10,000 to possibly 9600 or so).
As NEWP, yest, it is a good company, but it did its own "grvestone doji" today> KIt is selling at barely twice book and of the $15 or so in BV, close to $10 is pure cash. With the kind of growth I expect this company to have, i think it is a relatively safe bet. But, there is always that but, because the markets ar going to be unsettled for quite few more months, I am planning to trade it rather than buy and hold it.
Last, a small riddle, when does a company have more cash than assets? Which company might that be?
Zeev |
