EGGS looked stronger today compared with it's peers...
CDNW, COOL, ONSL(considering shorting tomorrow...see chart!), BYND, etc... all down much lower than EGGS at the end of the day. Interesting to note that many i-net's are sitting at their 50 dma's. IMO, we'll see most bounce off that and begin to recover (see the above mentioned stocks). If they break down through that support, you can call me short, too.
I get the feeling that the selling in EGGS is tapering off a tad and I suspect some short covering as well. We're almost at that 20% correction I talked about. Watch for true support around $15...we may not get that low though.
I'd sure like to know when the SPO is scheduled. If/when it is completed, I'll be looking for that much needed coverage.
Of course, "coverage" is a moot point, really, if these i-net's continue to sell off. IMO, it's just a correction. We'll see.
Best of luck SCOTT |
