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Corrections Corporation of America Message Board

  • guywithbaldspot guywithbaldspot Dec 4, 2007 3:43 PM Flag

    Onward and Upward?

    Have we finally cleared the $30 hurdle permanently? I know after the split I thought that we'd have very little upward movement through the rest of the year, but I certainly didn't think we'd dip as much as we did or for as long as we did.

    So does anyone (General or any of the other board vets) believe we're on our way onward and upward?

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    • Funny, you should've asked the question when you did, g-w-b-s. The General is still a fundamentally-founded investor, but he keeps an eye on the "technicals," and in that regard, he could see an "event" in the offing that DID occur on Thursday, November 29, 2007 (TWO market session days prior to your posting Onward and Upward?).

      The "event" that the General is referring to was a "BUY" signal triggered that day, according to a reputed Master Technician, Victor Sperando (so the General refers to it as a Sperando 'BUY' signal).

      It was on THAT day that the ASCENDING 10-WMA crossed above the ASCENDING 30-WMA.

      And, like Forrest Gump, that's all the General has to say about that.

      • 1 Reply to GenJackripper
      • Thanks for the response General.

        I know there were a few stories which gave the incorrect impression of the stock's performance and earnigs, which could have affected the price for what seemed like an eternity. Also, maybe the $30 mark acted as a psychological ceiling for some people who were waiting on the sidelines.

        I'm in for the long haul and don't even look at the stock price on a daily basis, but I was getting a bit concerned that we were below $30 for as long as we were. Anyway, I think (and hope) we'll continue onward and upward in 2008.

        Good luck to all the longs, and I hope you shorts take it in the shorts!

    • Yes but getting bumpy on the way. Great grouth stock regardless of economy

13.99+0.29(+2.12%)Oct 21 4:04 PMEDT