Post by
MustardTiger88 on Mar 24, 2016 3:48pm
Way oversold
It sustained double the loss of Valeant today, yet CXR is positioned to do very well. No sense to be made here. I will be buying more now.
Comment by
Health123 on Mar 24, 2016 3:56pm
Usually recommended to buy when RSI crossses out of oversold territory. Otherwise it is like trying to catch an f'en meteor.[ quote=MustardTiger88]It sustained double the loss of Valeant today, yet CXR is positioned to do very well. No sense to be made here. I will be buying more now.[/quote]
Comment by
sunshine7 on Mar 24, 2016 4:05pm
agree with the falling knife thing but this was recovering nicely before VRX debacle, and again before earnings (which IMO were not bad). Given the volume traded and steep dip, this may be capitulation. If so, then we can start a new recovery... until VRX blows up again.
Comment by
MustardTiger88 on Mar 24, 2016 4:12pm
Wow. The market is whack. CXR was the biggest loser today on the TSX both by % and dollar loss.
Comment by
MustardTiger88 on Mar 24, 2016 4:13pm
Wow. The market is whack. CXR was the biggest loser today on the TSX both by % and dollar loss.
Comment by
Health123 on Mar 24, 2016 4:21pm
Sunshine, I disagree and this one can go much lower. After Valeant's earnings day the stock continued to decline for 3 additional trading days and many thought 51% was capitulation. That is why it is always safer to wait until crossing RSI.