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Hi Harry, I checked IBD yesterday and ARX is showing a distribution level of "C" right now, I think a few weeks ago it was still "A", so obviously the selling is continuing. But, I also think it's been a fairly orderly distribution. IMO, it could go as low as the 9 or even a bit below, just on a technical basis, I think the heaviest support level is around 8, if it goes lower than that, I would have to assume there might be a fundamental concern that is being reflected in the stock price. But so far I think the trading has been fairly predictable. <edit> Also, when it traded below the 200 DMA that's an obvious sell signal, so I think that might explain the accelerated distribution of the last week, I wouldn't be taking a new position unless it breaks the 200 DMA on the upside on heavier than average volume. Take care. bp |
