permanantly, more or less. 42.50 will be an easy sign post to whack. After that nothing until 40. Why would anyone want to be in stocks right now with Geitner saying things like, "It won't hurt the US economy when the top 2-3% get a modest tax hike when the Bush tax cuts expire." Modest? The US economy can handle the extra weight, right, Tax Cheat?
Did you ever try to rest a cinder block on a paper cup?
Wow. Longs pump and shorts...well shorts do there thing.
I see NOTHING significant technically about the $42.50 other than its a round number. The stock is behaving very well imo since earnings. The initial drop was 95% based on the announcement Eli was retiring. For years we have all known that announcement would be worth 5-10% to the downside. Once again SNDK is handling things brilliantly by pre-announcing his retirement more than 6 months out while the stock is hitting on all cylinders.
I underdstood you and rocks being overly cautious about earnings, the market and the state of the economy. If the sidelines is where you think its safest, I wouldnt be one to argue, but "nothing till 40" sounds like council or sal.
SNCK, I agree with you completely. I didn't make a prediction exactly. I expect the current downtrend to end soon. Nothing until 40 was merely an observation that there is little technical support below the high 42's IF it were to break below this area. I think the chances that it will eventually break below this area and revisit some of the lows are in the 50/50 range. For me, with my gains, I am unwilling to take that chance.
As I said, I have seen no indication that they are through with p/e compression on this stock anymore than MU - who would have thought MU, as poor a company as it is, would have a sub-5 trailing p/e in a good environment even for them. I am actually hoping SNDK goes up, and a new uptrend develops, so that I can get back in - I would never short this here - but the short-term downtrend is still intact on SNDK and the NASDAQ. I agree with you, though, SNDK is behaving relatively well, and as I said, I hope it goes up even though I am currently out. In other words, I hope you make profits. gl
Just consolidation. Council spent a lot of time on the FCX board. He was the resident technician. Now he's over here starting arguments.
All noise, just noise. everyone would be much better off if they controlled the noise and stick to what you know.