$.310 share purchase plan, page-339

Retail flipping for pips against institutions buying to align with indexes. Today we see profit taking in particular for successful SPP applicants and also short term holders. The primary aim of the flippers is to stay ahead at every deal if possible. Institutions on the other hand have different parameters and different objectives. Most are for the longer term 3-5 years to maximise their potential. They mainly buy companies that are included in the indexation S&P indexes etc and they most likely track the weighting in the indexes. As CXO is included in some of the indexes, passive fund managers both globally and domestic will be including CXO in their purchasing budgets. Active fund managers also like to trade companies included in the indexes. They are more flexible in the amounts they invest. Fund management that are technically partial, besides the strong fundamentals will use chart patterns to guide their involvement. CXO, technically has their chart patterns enhanced with C&h and W3 patterns. Besides, it went through a period of consolidation to establish a base before the breakout. More heartening is its effort to return to the SPP cum support level to retest support. Initially I was in for the short term however it looks like I will be staying for a while. Glad to have build a position today on a terrible day for the market.