Breaking below $27 yesterday caused a point and figure chart sell signal for ACO. The current price objective is $20. The current price is also substantially below the volume weighted moving average of $29.96 and the unweighted moving average of $29.45 and much closer to the Bolinger lower channel band. Thinking of the million share days above $30 and I believe there is still a lot of volume interested in getting out.
After watching Cramer for a few shows after he split from Kudlow, I stopped watching have had no use for his hype. But after the extrordinary gain in ACO so far this year, the large gap up and extrordinary volume after his show provided me with an opportunity to partially withdraw from the market that would have been much more difficult on a "normal" volume day. It is also what persuaded me that the gap was an "exhaustion" gap to help trigger my sell attitude. So, I personally appreciate Cramer's attention. BUT, Cramer had absolutely nothing to do with the sharp drop in the Dow since his ACO comment. And, AMCOL has been very sensitive to the DJIA's movements. Technical charting is an "all in" (everything considered") method of analysis. Point & Figure charting never considers time and the probability of success in its use ranges only from 50 to 80 % . I do believe that Aco will be much closer to $20 before it reaches $33 again.