RE:RE:RE:Standing downyeah it seems to be more connected to oil than in the past... so probably alot of algo's and HFC's on it again ... oil is a tough read right now ... but even with the drop surprised how well its doing right now
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UnderTheRadar wrote: I almost pulled the trigger when CPG went to $6.43...I probably could have captured 6.42
but I left it...ah well....
I'm watching the oil chart and there's some heavy selling pressure...traders calling for a bearish reversal pattern.
I'm just waiting to see if the $80.58 support holds today. Check support levels on oil:
Seems like a lot of oil traders are calling for eventual $77 correction.
A sustained move under $83.00 will signal the presence of sellers. The first downside target is the 50% level at $82.10.
Buyers could come in on the first test of $82.10, but if it fails, sellers could drive the market into the minor bottom at $80.58, followed by a pair of 50% levels at $80.04 and $79.12. The latter is the last potential support before the main bottom at $78.78.
Bpultra wrote: the ones I bought yesterday I sold for a loss this morning... and if I wanted to... could buy them back right now for less than I sold... but I want to see where this goes.... selling at 6.35 was the right guess ... for this go around.. and the flip over to reco was even better ... got a bit lucky ..
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UnderTheRadar wrote: Not selling my CPG shares...just waiting to add as the downturn could continue...
RSI is around 51.5 on the daily: current stop price is $5.66...
CPG holding up considering a sharp hit on oil as are some of the gold/silver stocks...
Hoping we sail on through the current storm...
Reminiscing back to the 70's....remember when songs had meaningful lyrics and sentiment?
The fashion was appalling even back then...but what a voice!
Someone should have mentioned to Dennis that he forgot his shirt...