Another shocker for CWN, market depth isn't looking very pretty, see the buyers, theres a buyer at $12, and the NEXT buyer is at $10, that's not a good sign by any measure.
I still recken CWN should find support around $10-$11 level, unless of course it breaks $10 and than stop losses will be activated and you could see it drop another $1 or $2 who knows.
This was always gonna happen, CWN had such a huge run up from $7.50 to $18 in a couple of yrs, it couldn't keep going up forever, anyway, CWN is definitely on my BUY IT NOW list when it capitulates in any big market crash like in 2008, it is a solid business and has great assets in melb, perth and macau etc....
CWN will only recover to previous highs when the global economy finds REAL recovery, not the phoney recovery build on the fake QE program of cheap money that the FED started.
Yes US unemployment officially is down to 5.8% which looks good on paper but the vast majority of those people are part mine and making near the minimum wage, and are the "working poor", we need a real global recovery where the people at the bottom get ahead too, not just the 1% at the top.
only than companies like CWN will thrive once more.
CWN Price at posting:
$13.10 Sentiment: Sell Disclosure: Held
