Hi Hooter, I come in peace. I know you like your charts, so I thought I'd show you how I see things as of tonight.
I thought I would celebrate the one year anniversary with a chart that looks at both sides of the picture. The 'celebrate' part is a joke by the way for all you serious types.
Firstly I should confirm that shorting has not been on my agenda since we saw CDU put in the double bottom or sorts on August 9; so I've managed to avoid Wayne's buyback 'vice'. That may disappoint a few here who I'm sure would cheer on a non-holder losing a few pennies from his pocket lol. To be honest though, it would take a rather amateurish trader to have shorted CDU over the past week, because sure enough the stock was always going to make a beeline for the black trendline I'm about to show you. In other words, only the "wannabe shorters" would have been 'viced'. They'll learn a lesson for next time.
Anyways, what we have here, tonight, is CDU sitting at quite an interesting point on the charts. Now shorting might just happen to come back to the forefront if CDU cannot push on here, because there is an easy 30c scalp to the downside. But the point of this post is not to stir, but to rather post a chart.
The weekly stochastics are nicely poised to support a breakout here, in which case I would not hesitate to join you on the long side for a short period of time. However, if it cannot push on higher through the black trendline, then there is once again a nice short entry position just begging to be taken.
Interesting times. Contrary to what some of you may think, I'm not hell bent on shorting the daylight out of the stock. That is just fraught with danger because natural sentimental tendencies are too great for one trader alone to slice against that grain. You take the trade when you see it. Right now, it could go either way, but the above post should show you which way I'll go with tomorrow's trading.
By the way Hooter (or Downside), how did CCC go today?
CDU Price at posting:
$3.39 Sentiment: None Disclosure: Not Held
