Well, I have a first resistance at about 17-5/8 to 18, the next one just under 20 and a real major obstacle around 22-23. I am assuming quite a powerful summer rally and thus expect the two initial bumps to be taken out with some good news or momentum build up (like a break of 32 by AMAT). However, my turnips are painting a sinister picture coming into August (and maybe even as early as the last week in July), so looking at how long it will take CYMI to take out the first two hurdles and counting some back filling and retrenchement, I came up with the rough target of between 20 and 22 before mid August (but more probably before the end of July). After that, I do not like to look at the scenario, it gets quite ugly, with once more that number 13 or worse showing up. Sorry but I tell it like I see it, do not shoot the messenger. For whatever it is worth I am long CYMI again as of late last week. So, I am entitled to post here (VBG). As usual, I did not hit the low, but I got some pretty good prices.
Zeev |
