RE: RE: RE: RE: RE: RE: RE: RE: Below $ 2.60...pul Nobody can make that prediction because we can stay oversold for a very long time. I'd say though with RPL we'll probably at least do what we saw on Oct 4, 2011 and head near the $1.77. My spidy senses are waiting to see $2.25 before I even consider a nickle on it.... but now I'm thinking maybe $1.50?
At any rate, my strategy is to wait until August/September. With light volumes all summer I can't see a rally happening that is substantial at this time. Fund managers and investors take summer vacations, they stop paying as much attention to the markets. This helps the low volumes. So how is a rally to start now if nobody is home?
If I'm right and Oil flirts with low 70s to 60s then it'll take until August/Sept to get there. That'll be a great entry point to invest my 2.5 plays of cash I have left waiting for opportunity. (gunna average down LEG with the .5 and probably grab this and PBN with the 2 in 7 to 12 weeks time based on my speculation of the market).
The great news is if I am wrong and we do rally from here, then I don't need to invest my 2.5 plays of money and I can watch my beat up stocks return to break even.... so in my view a win-win if I miss the bottom.
But today is not the bottom. We can't predict the bottom by picking a share price. That's not how it's going to work. The bottom will be in when Europe proves it can fix its problems and reports of growth around the globe outweigh reports of contraction.
As for LEG, it has already pushed far below the Oct 4th "bottom" that you are so hoping has finally occurred. That stock has some heavy shorts and haters in it and it is kicking out retail investors.
In 2009 I bought on the AMEX the stock EXXI because at the time is was a penny stock. It crashed 50% more on me. It at the time had 7 sites producing but they laid off 5 of the sites because Oil crashed too hard. That's what made it a penny stock. Once I lost 50%, I doubled down and bought more. Then time passed and I woke up one morning and I was up 210% because Oil had finally risen enough to fire up some of the shut down sites. Foolishly I sold all of it but either way I was happy with the return. I say foolishly because it ended up soaring and would have been a 1000% return but hey, woulda coulda shoulda........