Yeah I can see it going to the mid 50's, because thats where the LT had got their fill and we were range bound with not much volumn. So you could postulate the CR holders and those longs take profit before they are under water. You could also make the argument that the market over reacts both ways and it could go briefly below 50. I can not envisage that until Nick comes off and the US sell off resumes... However the institutions will be seeing value now but also banking on more selling pressure over the next few weeks, so the question is when will they start buying volumn? Maybe they are all ready, but I doubt it. Blackrock was talked about by Scott I belive, but not enough for a notice it seems.
Anyway enough negative speculation, since .63 broke so quickly i'd be expecting/hope for a bit of strength tomorrow. The whole dynamic in play is sector rotation from crazy growth momentum plays eg Microsoft's PE 32, Netfix PE 36 NVIDIA PE 62, ect) To emerging markets outside of US securitys so the money has to go somewhere and the BSX story is in a good stage. They are well funded and they have alot of work to do with that money.
BSX Price at posting:
61.0¢ Sentiment: None Disclosure: Held
