Obviously, you don't believe the stock will drop below $40. Of course there's always a chance that it might not.
I still own 60% of the shares I bought at around $31.
I do intend to accumulate more shares below $40. So if it goes down, I'll end up with more. If it goes up, I'll make more money. I'll be happy with either scenario.
" For long term holders, all of this means nothing. But for traders, the next three weeks could be disappointing. Use the lull to accumulate shares at prices below $40...starting this week."
idreamalot2, just remember these two sentences and in three weeks we'll know how many shares you accumulated below $40.00.
Thanks for your read of current CMED TA picture.
Board is always better off by getting as many interpretations of TA.....as this is a "weak area for me"
As you know I added more CMED around $39.70+ area...as I feel it is an attractive area to accumulate more.
FA tells me that CMED will move UP....once volume comes back....
Friday was a very slow volume day...and we did close way below open price...so I can see what prompted you to conclude about technical snapshot.
<It will be interesting to watch where CMED will head in the next 90 day's.>
I'll tell you where it's not going Tuesday. It's not going to the moon. You'll have a chance to buy as much as you want in the $39 range. The stock has temporarily spun out. Any way you draw parallel channels, the chart is temporarily broken.
Friday's volume was anemic. Wednesday was a hugh distribution day...preceded by an even bigger, mother-of-all-distribution days of over 2 million shares 2 1/2 weeks ago.
Technical telltails like this are hard to ignore. Keep your powder dry, Saleem. Use this lull to regroup for an eventual assault "later." I say later because the chart has now broken cadence. That's my way of saying that the current assault pattern is now broken...and we need a week or to to see what near-term pattern emerges.
For long term holders, all of this means nothing. But for traders, the next three weeks could be disappointing. Use the lull to accumulate shares at prices below $40...starting this week.
This is not my "gut feeling", but just pure technical analysis...but remember that techncial analysis is not a precise science...as things do go wrong.
I don't hear anyone on this board talk about technical reasons when they spout off about their supposed TA knowledge. I think the people on this board (who are many) who give fundemental reasons for the the stock going up are well-founded. But people who claim to have technical knowledge almost never give their explanations.
Just my personal observations.
It may be that CMED is "the undiscovered investment" - there are other opportunities that are more popular right now and doing quite well... so CMED appears to be a sleeper until more stellar earnings come out... or the possible delivery of an exceptional product. The P/E is rather high to my tastes, but I don't have that much invested in this horse that has great potential.
Thanks for your analysis.
I do share your enthusiasm for CMED.....
My expectation for CMED price is also much higher than recent prices....that is why I did not book a $5 gain ..which was there for several days.....
It will be interesting to watch where CMED will head in the next 90 day's.
It is much easier NOW to be an investor than be a trader....
Good boy. I'm with you. I think I'll stay in for the next 3-4 years (at least). After all China is going to be making everything for the world and the Yuan is going to at least double from here in a few years.
You are telling people the same thing I've been trying to say. Assuming the world goes on the way it has been, I think this is going to at least 4-5 times its current price in the next few years. So why try to jump out after one dollar or ten? Why?
Check out MR. PE is almost 3 times PE of CMED.
I don't know what is going to happen in the near term, but here is one educated guess. Keep in mind that some cups do not make handles, and some cups make very small ones while others make normal handles. Who knows what kind of cup/handle combination CMED will make? Regardless, CMED will try to shake off as many holders as it can as it moves up. That is the nature of the beast. Think of CMED and other stocks as buses .... buses that like to go to certain destinations without a heavy load of passengers. Their shares wll be consumed by the bus-conductor who takes price up and sells to much higher bidders.
Near-term guess. I give a 60% chance that CMED will break 50 faster than most expect. I'm guessing this break upwards past 50 will occur way before earnings.
We'll just have to wait and see how it plays out.
" Once we move above 41 we can really move."
We are now forming a HANDLE on a huge cup (see the chart below). Pivot point is at 44.78. Once we move above that point on increased volume, than "we can really move". Than, the sky will be the limit.
The big breakout will take place between now and November 13 the day of Q2 report.
I noticed, some people here are playing for pennies or handful of dollars and they can miss the real play for big money.
In my last post couple of monts ago, when CMED was changing hands at about $24.00, I've said, that $45.00 would be the minimum price I would sell my shares for. Now, I can tell you, I would not sell CMED for $45.00, not for $50.00, not for $60.00...