Personally (not that I trade blue chips,except on the short side) I would wait for tomorrow's close. If it closes clearly below $6 I'd be looking short. If $6 holds you may want to go long on a technical basis.......although no fundamental basis for its 20+ PER.
I'll watch it for a short maybe (although I'm getting less and less inclined to short as the market goes lower) ,but you can bet your bottom dollar that the HUGE number of people who bought around $6 in the last week or so (sharing your thoughts) will be covering their positions in droves if it goes much lower than where it is......the fall could be rather nasty if it goes. Tread carefully.
Ed.
CML Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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