This is one nasty reversal.I bought the breakout but luckily I do not trust this stock one bit and sold at the open.I like this company for the long-term but its stock is irrational.It's a great trading stok if you respect its multiple personalities. I'll be looking to buy back around 30, unless the market collapses (as it just might).
Nice to see a bubble valuation get nailed. I'd buy this stock in the low 20's, but the stock is way ahead of itself anywhere above 30.
You may be right but it's a great trading stock.Bounced right off its 50-day average as it has done since May and it's going back up to the 34 area if the market shakes off this weakness.This is what Mr. Market is giving us these days. Swing trading is the only way to make money. "Investing" is a thing of the past, at least for now.
Me thinks you smoked a little too much dope as a child...
And your point about RBCN is what?Price tells the story. As I expected stock went under $30 today after being near $36 yesterday.Failed breakout is ominous and if stock cannot bounce here off its 50-day as it has done since May, it is likely headed for mid-20's.