About 2 months, I sold my CNP in 39/40 cent, and somebody here very impolitely say I am a "Weak hands". Now, the reality and time prove every thing.
In the past 6 weeks, I was able to reenter at about 32cent~34cent(Sorry, I can't remember the exact figure because I am not just playing CNP) and sold in 1 week to earn about 5% profit.I actually avoid about total 50% percent and get about 20% profit. (This assume I bought from 40c, I actually bought at 24c.)
Now I think it is time to review my trade in CNP. Back to the time when CNP was in about 50c ~60c range, it was mainly because of the rumor of 90c bid. But I am not sure every one notices or not, in the same period, DOW was in the upper channel as well. So what happens if the rumor is not true, and DOW start to drop?
When CNP backs to 40c, it proves the rumor is not true or does not come true. At that time, the only support for CNP is other news like asset sale, etc. But unforunately lack of good news and DOW back to down trend channel, all start to push the CNP down and that's what happens in the past 4 weeks.I sold all my holding in this time.
I have to say when a stock has to rely on news to remain the price, it is a kind of gambling for investors. Of course, we can still buy CNP as a long term, but for how long? Past history can not prove every thing. In my view, in the next 2 years, CNP is very hard to get back to over 1 dollar unless somebody want to buy this trouble maker.
Last but not least, good luck for all holders.Hopefully, the CEO can do better jobs before the end of this year.
CNP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
