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Corning Inc. Message Board

  • scootr1971 scootr1971 Apr 9, 2012 4:14 PM Flag

    Nice price reversal in (GLW) this morning

    I originally wrote this on April 6th...in here on the message boards.

    It looks as though Corning will drop down to about the 13.20 range in the coming trading days to reach the bottom of a wedge pattern that started back in Sept/Oct of last year. The price has definitely been compressing over the last 6 months. The lows of the wedge pattern are still intact and trending upward.
    Will Corning keep supporting the share price or will the sellers take charge and break the pattern lower?

    All bets are off if we enter a new war with IRAN.

    Also check out the correlation of prices between GLW and the S&P over a five year time period. The divergence in prices is overdue to correct. (Keep in mind I say the same thing about numbers or colors being overdue to hit when playing roulette) Either the S&P is coming down or the GLW is going up over the coming months...or both. Just my noob opinion.

    Looking for other opinions!!!

    Full Disclosure, I recently entered a deep in the money Jan 13 call position.