$1.87 - $2.35 looks to be the new short term trading range for TEN. It has hit the $1.87 area twice, and the $2.30 area 3 times in the past couple of weeks.
If it breaks $2.35, $2.48 will be the next test. If it breaks below $1.87, $1.73 will be the next pivot point. After $1.73, $1.31 is the next support.
Just my opinion.
Well if you and / or possum know what you're talking about then why don't you indulge us all and tell us where TEN will close on Tuesday, Wednesday, Thursday and Friday of next week? Heck why not just give us the stock price every day for the next month so we all know how to play it?
Don't you get just how little value you are adding to this INVESTMENT MESSAGE BOARD!
If you're supremely confident that TEN is truly heading to BK, why not just shut your trap and short it to the ground! I normally find it is only the scared shorts that run around yelling the sky is falling.
Go ahead you idiots - throw good money after bad. Big difference in what was going on back in the early 2000 and now - mainly TEN had plenty of "excess" assets they could turn into cash to retire debt and avoid bankruptcy. This isn't the case this time around. This ship is sinking fast. You should listen to Possum - he maybe "cranky" sometimes, but he still knows what he is talking about!
There was some strong volume on the move from $1.52 to $1.77 today. TEN surged .27 cents in about 20 mins, got close to the 15 day moving average, and backed off.
IMO it was people buying heavy, or short sellers covering there postions. A short squeeze would be nice.
As I type, the DOW is starting to sell off. Hopefully TEN holds on to this nice gain.
It's crazy how a few hours in this market changes everything! When I saw the reversal on the indexes the last 30 minutes, and the heavy volume the last 45 minutes on TEN on the uptick, I decided to go all in at the close.
I'm 25% in at $1.85, and 75% in at $1.43. I'm hoping to ride this to atleast the 13 day moving average ($1.80).
This is either going to be extremely fun, or extremely sickening with no in between.
I've changed my mind. I may buy some near the close to averaged down from $1.85, but I'm more concerned about the S&P 500 breaking down. 800 is a important level to hold for the S&P 500.
I'll probably be cautious here and keep some cash on the sidelines. I lowered my rating from strong buy to buy. Accumulate shares may be the best idea here instead of all in.
It should be a good day to load up. TEN is being very oversold today (IMHO) based upon some stupid rating drop by some jerkoff rating agency that probably has 15 million shares of SIRI they bought 4 months ago still sitting in their portfolio! Besides, with the market having a three day weekend on deck, I'd be willing to bet we're in for a nice rebound tomorrow across the board.
It looks like a market retrace is occurring right now (bear in mind, I'm an investing idiot). I would guess shorts have started to cover their positions and will be covering throughout the afternoon in anticipation of tomorrow.
Well, $1.30's has arrived. This is the very last support area for TEN. IMO we bounce up to the 13 day moving average from here. TEN is at $1.35 as I type this.
I'll be loading up today if $1.30's support holds up.
Don't have to agree, these are just my opinions based on support and resistance area's. If you look back at my prior posts and topics, I've been correct so far.
$1.73 is a key support area for TEN if you look back the last few months. After $1.73, $1.30's is the next support area (all time low, and intraday low of 11-21-08). That's all I base my info on.
Actually as of now TEN is $1.75 (back above $1.73) which leads me to beleive that the sell off to $1.64 today was due to yesterdays day traders getting out. If that's the case and we stay above $1.73 today, we may be ready for that up move you're talking about.
Closing above $1.73 give or take a cent or two is very crucial IMO.