Here's my theory on today's actions...and I don't claim to be right, it's just MHO, and I thought I'd share it with all of you.
Given that I own a long position in CPQ, I had to rethink the reasons why I was long in light of those new facts. NEW facts, did you hear me? When did CPQ release their earnings?? last night? nope, sir.
Those NEW findings my friends have been a known fact for anyone who reviewed the financial statements of the company, which I know all the big boys have. Hell, they probably know the footnote by heart.
To make a long story short, the funds and money managers were not caught off-guard with this article (Full of New info), I hope no one here believes they wait for some journalist to report the facts and show them the light. If this was such major bad news, they would've sold a long time ago, and we would be trading at a much lower price now.
The drop in the price today was their opportunity to buy CPQ before they have to chase it at higher prices, I petty whoever sold on this news, for time will tell, we are heading to higher grounds.
I based my decision to go long solely on technical grounds, which still hold true.Until otherwise, I shall stay long. |
