General Discussion Topics, page-57300

Just some rough calculations to estimate the bottom.

June is a notoriously bad month for the market. Combined with ALL the other crap going, it really is a perfect storm.

Anyway, I have used the fib 61.8 retracement as a basis.

With no change in fundamentals, this is generally what some analysts look to as
a general buy zone. ( Even though our fundamentals seem to be improving)

I say general, as they use a myriad of indicators, and also follow the trend lines down and would start
to show interest in and around the 61.8 as a upper buy, but are always trying to buy lower.

Shorters look to the same retracement level, as a safe place to start closing positions, which we have seen evidence of.

So 7.2 bill shares x .39= 2808000000 mc pre cr

post cr 8.2 bill x X= 2808000000 bill mc
X= 34.2c relative SP

.342 x61.8%= .2116

.342-.2116= .1304

So, with my very crude calcs and assumptions, I am thinking a reasonable bottom
could be around 13...maybe 12-12.5 if the selling gets carried away on a bad day and the momentum pulls it lower.

This 8cent mumbo jumbo is completely unjustified, unless they have some calcs to back it up.

Anyway, me just thinking out loud.
Please feel free to do your own calcs and share....

Not financial advice, I am fingerless from catching this falling knife...just me sharing my thoughts.....and I'm a nobody.....DYOR!

Let the slagging begin!!!