20 should now be strong resistance. As I said a week ago, is still see 18 as minor support with 14 the bottom of the parabolic rise. Just too much overhead resistance now for this stock to make any significant gains. Overhead Resistance(too many sellers) is why it will take time for it to base at the bottom of its parabolic rise. It will take time for the longs to loose their hope. Again, there will be small bounces but the trend is down friends.
"20 should now be strong resistance."
Congradulation on your precidating technical theory!
It happen, twice in two days:
Strong Sell and short play
This is why they are all criminals.
Last week Chambers said he remains cautious.
I had to dig this up to prove I wasn't dreaming when he threw water on the 3Q.
NEW YORK, Aug 8 (Reuters) - Cisco Systems Inc. (CSCO.O: Quote, Profile, Research) President and CEO John Chambers said on Tuesday his previously cautious view on business conditions was appropriate, but that momentum was strong for the network equipment maker.
In an earnings call with analysts, he also said that four of the five geographic areas showed stronger product order growth, with Europe being the exception.
Criminals always seem to wind up running public companies. Which one is it? "Cautious"? or "Optomistic"? Or, is it "pleased" or "disappointed"? Which word do we use tomorrow. How about "jail". I like this sentence.
While I would be DISAPPOINTED if JAIL wasn't the least of the penalties for CEOs that mislead the publc. I am OPTOMISTIC that prosecuting attorneys will be less CAUTIOUS when entertaining indictments to further protect the investment community from wild swings brought on by speculative commentary from the leading CEOs in America. I would be PLEASED by some form of continued justice for the American investor.
Apparently, management doesn't seem to give a damn about its shareholders or limiting the weight of overhead resistence.
Any chance of their stepping in to show any support would have been better to be established a few days ago.
Now, there truly is a base which works both ways. Support at 20 is also overhead resistence when it can not sustain itself above this target.
I will look to buy this stock back at lower prices.
A typical oversold stock with stable fundamentals usually bounces to close at least 50% of the gap. If it is indeed true as everyone believes, including myself, that this is oversold or in that territory, then it should have attempted to close the gap. It didn't.
This failure is fatal.
Management's silence to this is fatal.
Insider's profiteering at much higher prices without any attempt to purchase shares here at a 50% discount to sales is fatal (buy low - sell high or sell high - buy low).
While I was a bit put out by the open soliciation for a shareholder lawsuit, perhaps I was too hasty in my criticism of the lawyer. Where's John Rutherford and his $100mm. Where is Tom Barton and his crew and their millions of dollars? Where is the company's money which belongs to the shareholders of the company?
If today's conference and the earnings call indicated that SUNW is no threat or doesn't see RACK as a threat and DELL is late to compete, then what do they need all the excess cash for?
Management of this company stinks and when it turned its back on me and other shareholders, they proved that there is something more that is wrong here than what was said during the earnings call on the 27th or today's conference.
They don't return phone calls to shareholders. And have nothing good to say or even respond to absurd misstatements in the press about their conference call.
They are weak kneed jellyfish that have no spine to support the shareholders that Tom Barton had the temerity to thank during the earnings call.
What a crock of garbage. I only wish I had $250 mm to position myself and take this garbage out the back where it belongs.