thanks Wayne, I hope you don't get the impression that
I was giving you heat over your last prediction of down
to 24...I was just surprised, but I discounted it because
I thought only the market would take us down, and I didn't think
the market would be that week after G-span's 1/4 pt ease.
Obviously, the market has had a tremendous backlash against this.
Also, the last several times we went down to 24 (I've lost
count:-)), we went down on weak fundamentals. But now, it
certainly appears that COMS is in a turnaround phase...of course that
never guarantees that exogenous elements may not still come
into play and still cause us pain.
>>I'm looking to reshort tomorrow on a rally to $27 or something.<<
I'm thinking the same thing. I'm wondering what the chances are
of poping to $27 after a day like today. Possibly no buyers
left after being shell-shocked today.
>>You'll see a consolidation zone when it gets down to $24. You'll see a few false rallies before it actually rallies. I'm not going to predict that COMS will break through support--that goes against the odds.<<
The last few times, it's been hard for me to predict whether we
would hold or not at 24. But this time, since we're down due
to market conditions, I'm wondering if the probability is higher of breaking through. (btw...what's the next resistance?)
Look how we've gone from 30 to where we are today. Support,
resistance lines haven't meant much from what I can see.
thanks, joe |
