Hi everybody
I havent posted for a while because one might assume that billabong had stabilised around the 6.60 mark. Suppose I was waiting to see if it could move beyond this point. After dropping 30+ cents in 2 days to the 6.27 level I have now concluded that billabong has further downside in the near future. One of its other problems is that it collapses further in 2 days, finds a new resistance but it cannot find a footing to build to higher ground. It seems the sellers are relentless on billabong. I have been burnt lately from billabong too many times. There are times when one must learn to let a loved one go. Billabong is certainly not a favourate at the moment to anyone. Investors are running from it in droves. It seems since the beginning of the year a stampeed has been on from billabong and I have been crushed far too many times. It is time to brush myself and walk away from this trusted friend.
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