GREY:MAAFF - Post by User
Post by
Kuhlhauson Aug 06, 2009 5:02pm
549 Views
Post# 16197586
My Bet - We test the recent $0.42 low...
My Bet - We test the recent $0.42 low...Will the $0.47 low hold??? My bet (for what it's worth) is we will be headed lower in attempt to shake the tree and trigger stop loss selling and create some real volume (3 to 4 mill range).
It's too earlier for MAA to rise on speculation... another week or 2 of weakness and gut check time, testing everyone's resolve. We should see basher traffic increase here too if I'm right, spouting that the market is telling you the deal is dead - sell and get out before it drops like a stone, etc.
Combine that scenario with an overall sell-off or weakness in the broader markets and you can easily see how some downward pressure can mount.
Personally I'll be happy to back the truck up in the $0.39 to $0.42 range.
Cheers,
K.