Dear Grass,
I too concur with a lot that Dr. Jeff says. A 12,000 share position
is nothing to mess around with unless you have deep pockets and a strong stomach. That having been said, I think OO is going to re-test
its recent highs (14.00+) before it would break down. I would put a stop in at 12.125 or preferably 11.625 (need lots of stomach for that)
and stay in. Remember, OO has a habit of drifting down on light volume after a pop up, and that could happen. It will shake some out, but might be a prime for next advance. Unfortunately, the overall market is the big ? in this whole deal. If we don't sell off much in the next few days, stay flat, or up, OO could have some good days. If we tank, well, who knows then. I have to say that the technicals for OO have been looking better and better, but we still need to break 14.00 to say we are in a (real) uptrend. I too feel that it is almost a given that someone is going to do an upgrade on OO. Even through its terrible trip to 8.50, nobody I believe downgraded it past hold. There are some brokerages out there just dying to get it back up to unload shares, and to let their clients get out at even.
BCL |
