I think CBI had some exposure to BEAR STEARNS but I'm not sure what blog,post, or article I read leads me to think so. I am a long holder ( employee stock purchase plan as a former employee of HOWE BAKER owned by CBI) and have seen the stock double and last year climb to $60.00 plus and now down to here. I suspect a unregulated Hedge Fund is riding herd on it with naked shorting. I have zero proof to back up my statements.
Buy on weakness and sell into strength. Easy to understand and hard to practice, including for myself. The energy stocks seem to go on runs and then eventually end in some capitulation day.
Support and resistance levels, including moving averages are worth paying attention to. CBI fell through $40 rather convincingly--why, I'm not sure. The last qtr results appeared good with the healthy backlog forecast into this year.
Lots of uncertainties about which way this economy is headed. Market seems to be split into two determined camps.
I'm 23 and didn't enter the market until around April. So, most of my time in it has been... bad. Still haven't lost much though compared to many others. But I've been unable to resist the urge to buy and sell constantly; usually at a loss and usually out of fear.
But, lessons are being learned and wisdom is being heeded.
I've been through Aprox. 3 downturns in my days,(it's hard to differentiate). We ALL knew 2008 would be rough, I thought 3rd 1/4 would be downturn ,but hey! Last year through swing-trading CBI netted after sales for me and family, 203K. Now without cashing out I'm down 170K. We have time to wait, we must! CBI is a stong pick for this economic downturn. MANY others are worse. Hold your cards. Remember you neither make nor loose money until you sell an issue. TIME..