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CNO Financial Group, Inc. Message Board

  • james141492 james141492 Nov 19, 2008 12:40 PM Flag

    Anybody else see dow 7,500 comming

    Sold a portion of my shares on yesterdays spike at the end of day. Did so because I am looking to see how cheaply I can buy them back.

    I just think the market goes lower so that I can buy the ones I sold back at a good discount. Just sold a portion because it aint a sure thing that the market does plunge to around 7,500, but I think a good chance it does.

    Dow is around 8,200 at this moment.

    Prior intraday low was at 7,882 some little while back. looks to me like the market is going to test that intraday low, and I say it gets taken out. If it does take out 7,882 the I think 7,500 comes real quick.

    Any technical people out there care to chime in?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Dow broke 7,882 with ease right off the bat this morning. The ease with which it went through it was just kinda scary really.

      Looks like 7,500 is comming. If that level does not hold then who knows what is possible. Like I wrote before, could we even see 7k or even 6,500?

    • Speaking of technicals, it looks to me that if CNO can hold in the $2.50-2.80 range for the next week it will break thru its 50 day moving average (on the upside). Is this considered a bullish sign?

      • 1 Reply to allkelr
      • That would be a good sign I think.

        But I don't think CNO or any stock can buck the market right now. I believe that sometime next year when these bad days are behind us CNO will be a lot higher than now, but for the time being I think it will follow the market.

        For example, news of the trust should have propelled CNO much higher, but it did not. Overall market direction overrulled the good news.

        Another example, CEO bought about a million dollars of stock a couple months back in the upper $4's. Should have helped stabize the stock price, but the market overruled, and we know what happened to the stock price since.

        Read a post here that there has been new insider buying. In the longer termthat is excellent news, because it shows the fundamental worth of the company. In the short term however it will make a difference in the stock price for about 30 minutes. CNO will go where the market goes.

        This isn't just particular to CNO. Tons of good stocks are simply being thrown out the window right now, and the market simply does not care.(not at all)

        CNO is a fantastic bargin right now, but the market does not care. Same way it does not care with tons of other good stocks right now.

        For the time being CNO goes where the market takes it.

    • Guess no tech types on the board.

      Anyway Dow 7,500 luoks almost certain now. Dow closed down + 400 points to a tad under 8k.


      The strength of today's down move supprised me. Was expecting a test of 7,882 but the speed of the move towards that level supprised me.

      Markets should be down hard overseas tonight. Might be ugly tommorrow. Speed of the move down
      has me convinced 7,882 will be broken (maybe tommorrow) and now I am actually thinking about the chance that 7,500 will not hold.

      With the way things are it seems that 7,000 or even 6,500 might actually be possible.

      I got some dry powder anyway.

 
CNO
17.36+0.09(+0.52%)Sep 16 4:04 PMEDT

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