CC,
Buzz saw my man...let them run it a few days and attack once the reversal is confirmed? I have to agree though with the summer bid/offers being so thin they can reverse anything with no volume and take it down easy.
WSC-
As usual, good points, cause manipulators could easily run this another 4-5 points----still an absolute ton of short interest out there to terrorize.
However, it comes down to style for me. If I "wait and see what happens," then I will wait forever. As you know, nothing looks "obvious" when prices are moving up/down at light speed.
I believe C is not only technically overbought now, but also fundamentally overpriced, especially given the hideous economic prospects for Q3. Yes, yes, "the market always discounts the next 6-9 months." To me, the economic horror of the present has much more than 6-9 months left.
I will short C at Monday's open unless it opens down a bunch. If it moves to 23-24 (which is about as high as it can technically go according to me), then I will double up. I usually hate "averaging down," but I am 100% convinced that C is total trash. The only thing which could save it from the 10-12 level is the takeover threat, which is a distinct possibility given how worthless the US dollar is.
Anyway...........
Hot Forum Topics
