I expect Monday dead cat bounce to 33 or so, mostly shorts covering, then drift back to high 20's until more concrete news are out. THere is also a good possibility of a short sqeeeeezzee, for instance , look at AZPN, a couple of months ago, there was a wide street rumor that they were going to miss Q3 projections, stock went down to mid 20's, then Q3 results were in line (and actually better than expected) and stock went back to $39 the same week, AZPN CEO then faced the media and explained their vision, stock went to low 50's....MANU will miss their quarter, but ....how bad?....MANU's CEO obviously does not know how to handle damage control....ITWo may be a good target for shorts now, this market is basically a three ring show: ITWO (first), MANU (second), and distant third SAP ... I say that ITWO will be under 60 soon...
TC |
