Hello thread, I'm back and I am short, again. Yesterday was a very good technical reversal top for CDRD. I expect it to yield a quick drop of 5-8 points. Of course, if the top is taken out I will cut at 40......otherwise, short term, I see a good chance of a quick drop to 28-30 dollar area.
I still can't believe this stock has climbed this high. With their debtload, cash burn, and no earnings forecast for over another year, I find the current price to be somewhat optimistic. For what its worth, I felt that way when the stock was 21. I shorted it then and covered at 13.
Wish I had bought it after that, but I could see no fundamental reason to do so......now at 37, I think most of the good news is priced in, and as I said before, the charts gave off a big reversal pattern yesterday................;^) |
