Mark,
Here is a chapter from my book of frustrating stock ownership experiences:
I purchased Verilink (VRLK) after a dip from the teens to below 6 in late March. I actually got in at 5 7/8 (coincidently, about where CRNR now seems to be basing). I did a lot of fundamental analysis and valuation work on this stock and looked at TA. I set a target of 12. I held until late May when the stock was at 7 to 7 1/2 and apparently heading nowhere. I put a limit order to sell at 7 3/8 on a Tuesday. The order executed; by Friday, the stock had run up on heavy volume to over 11. I made a major mistake with VRLK - I did all the FA and looked at TA and set a sell target of 12. Nothing changed except my patience and I, regrettably, sold.
Wish I could say with certainty that CRNR was headed up real soon, but I can't. What I can say is that when I got in CRNR in June, I thought it could run to 10 - 11. Except for the June quarter revenue dip, which hopefully was a timing matter, nothing has changed for CRNR. Unless there is a drastic decline in the market, I'm going to be patient with CRNR - at least until the September quarter report. If the revenue dip is reversed, CRNR should see some accumulation; if the revenue decline continues, it may indeed be time to look for other opportunites.
Have a great weekend,
Paul
PS, A great TA site: alphachart.com |
