Good support around $10 it seems, at least for now. Since volume has slowed, I think it is safe to assume the panic selling is over based on recent analyst coverage.
In the absence of any spectacular news, I don't see too much downside potential. I know the acquisition of PT-1 was not fully worked into this quarters earnings figures, so based on that, next quarters numbers could have an impact on the price of the stock.
I got into this one for the long-haul, I don't mind this volatility, in fact if it gets absurd, it may provide the opportunity to add some more. Like I had posted earlier, newer lows have recently not been as low as prior lows, but to go much higher, I feel we need to see recent highs begin to exceed prior highs.
It is going to take earnings to do that, so lets hope some good business is being generated through PT-1, as well as new business development. My money is on this company and the CEO, the general economy is going to have to lend a hand though to go supersonic. That's a whole nother issue ... one I'm less than rosy about at the present time, we'll see !!!
Regards, JB |
