HOPEFULLY, that was the bottom. If you think about it, how many of you thought when we were at 16 5/8 at noon or whatever, that we would be closing at 15 1/2 today? I had to talk my partner out of dumping his entire stake of Cymer today when the bid was around 17 1/2. He was going to sell everything and then try to make it up by shorting! Darrell, and several other bulls sold out already in the 20's or lower. I think maybe we have survived capitulation. I put my first short order in this morning at 18 and didn't get filled, but it was the first time I have EVER put a short order in for CYmee after all these down weeks. I guess what they say is true, as soon as you are totally convinced the stock will go down again, it is at that precise moment that the bottom is hit. Lots of margin puking over the last few days has also been a factor that could indicate a bottom. Also, all the people saying "I will buy this WHEN it hits 15, not IF." Again, another sign of a potential bottom. You gotta give it to Candlestick pounding the table at slightly over 18, lets see if he's right. Can you imagine the respect he will command here if he turns out to be right?! Candles, how do we judge if this is the bottom? What has to happen over the next couple of days to confirm this?
I know everyone will probably sleep a lot better tonight, especially the dude with 22K shares!
Enjoy your evening, and lets hope for a nice up day tomorrow heading into the weekend.
Steve |
