<<My ears were burning for some reason, so I read your post. Look at KRON's chart--it's a laugher. It's as if the stock
price plunged down in a Warner Brothers' cartoon, suddenly realized it was over a cliff (in this case below the 200
DMA) and, spinning its Roadrunner legs about 3600 rpm, motored back onto cliff side. I guess the next frame will be
an anvil dropping from the sky. I don't think I'll be a player here>>.
LOL. Great word picture. Don't blame you staying on the sideline, esp. after SMTF. Seems like KRON's behavior is fairly typical, and can produce a nice quickie return. Inspires another word picture.
How high the cat (stock) bounces depends on the coef. of restitution of said dead cat (a function of how taut the putrescent gases of decomposition have ballooned kitty's skin), and how fast the initial descent. Staying in too long increases the odds of a big splat when that anvil hits with bits of kitty all over traders that get too close and stay too long.
OTOH, there are the occasional PVN and HC kitties that manage to defy gravity, dodge the anvil, scramble back to the top, and like the Cheshire cat that's only used one of its lives, stretch out languidly in the sun, yawn, and grin as if nothing had happened. Db's Sivle, Jim P, and a few others here seem to be able, better than I, to find those kitties with sustainable life in them.
Jim |
