RE:RE:RE:Someday this stock will turn upADP238YEP wrote: Yeah agreed - I'm out for now. This hasn't been too bad a stock to trade - even on the way down. Right now it's going down in a well defined channel. Next support is either ~$9.60 or possibly a little lower at $9.50. If you buy there be ready to take your profits quick.
One thing you can count on with this stock is the direction right now is lower.
Above all else protect your capital and take your profits when they come. The chances don't last for long. I've actually made money these last 6 weeks by following this strategy.
Down on an up day for oil - thats not good. Its the same pattern oil ticks up COS goes up a bit - oil ticks down and down goes COS. Until I see that change I'm not leaving my money in the market. Technically right now it's scary. If WTI goes down to ~$55 - which I'm not counting on - we might see 6 again - maybe lower.
That thing about COS stock is that it can go down as quickly as it can go up. So you never know when it could turn on a dime!