The FDP results certainly didn't help, and with oil rising and Bernanke yapping on top of it. Ouch. Ultimately, the stock will move to whatever range is appropriate based on what is announced tomorrow, after the close. Nobody knows what to anticipate, given the number of moving parts. And, it looks like the analysts are not going to say a thing until they see the numbers. In the interim, we are at the mercy of the markets. New media is fanning a lot of flames at the moment - suggesting that unrest will spread through Middle East into place like Saudi Arabia. Anything is possible, but I think the conjecture is premature. I hedged part of my position yesterday by selling some calls, largely in defense of what FDP might report. But, I am holding underlying shares and not bothered by a potential waiting game. GLTA
I was looking at how FDP moved throughout the day. By the end of the session, it lost the same percentage value as CQB. It's too bad we had a rough market across the board today, because it makes it harder to analyze how much movement is market versus sector related.
Anyway, one could argue that even if CQB turns in results similar to FDP, in a flat market, it would also move flat afterward. After all, the stock has already been taken to the woodshed for it's brother's misdeeds. Unfortunately, reason and psychology are not always in alignment in a stock market. So, it's possible that with weak results the stock could get punished twice. If so, it might present a good buying opportunity.
Of course, here I am, suggesting weak results when I actually don't really know what CQB will release tomorrow afternoon. A good argument could also be made that if results meet or exceed expectations, the stock would quickly recover the buck it lost today, and then also earn premium on top of it. If there is a beat, I see it flying to $18+.
Ah well, these are just meanderings. I'm hanging tight, and don't have any plans to exit the stock in a big way until much later in the year. When we get to the mid-20's, I will likely close out at least 75% of my position, depending on prospects.