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John: I never heard of Joel Gander and $38 is ridiculous. I say 56 - 59 over next 5 - 8 trading days. My reasoning? ... examine the chart. Charts aren't everything but they are an AUDIT TRAIL OF THE TANGIBLE RESULTS OF EVERYTHING UP TO THE CURRENT MOMENT IN TIME. I know that to complete a picture you need fundamentals, you need market mood and direction, you need to know how much faith there is in a stock, etc. Some of this I have and some I don't, but I can tell you this much: Put a straightedge on the "daily" QUOTE.COM chart for CPQ and you will find that at the angle of descent you get 57.5 (bottom) to 67.5 (top) for the most recent down/up turn, (that is, if you erase it first and put yourself a week and a half back in time ... pretend you're predicting the future). In fact, CPQ went 57.5 - 67+7/8. Not bad huh? I actually predicted this (to myself only) prior to the the rally, whether you believe this or not, but DID I HAVE THE GUTS TO FOLLOW THROUGH WITH WHAT I BELIEVE I SEE? No way! I was in and out 3 or 4 times and didn't obtain the range shown above. This is the hardest thing for me ... to read a chart, know it's true, but then to follow through takes raw guts. I think CPQ's next span will be about 58.5 to 68.5. |
