For you risk takers..

Posted by downtowntrader | 9/20/2005 11:10:00 PM | 1 comments »


CPST may be setting up for a bounce. It bounced off double support today (trendline, 50% retrace), and filled the previous gap. It ended in a doji which could signal a reversal as well. The key is how it follows through tommorrow. I know about the bad news, and I'm not sure fundamentally where they stand, as I'm only looking at the technicals here for a short term move. If CPST makes a higher high (>4.45) tommorrow, then I believe it can be traded for a quick gain. If it makes a lower low then the 61.8% retrace may be the next stop.

1 comments

  1. Anonymous // 8:27 PM  

    Another great blog man! What a 4 you are! I couldn't derive half of the fantastic ideas you come up with.
    My christmas diaper cake site is too off kilter and barely unique in content. Why aren't you in advertising or better yet a "think tank". Is this something you were born with? Keep the fabulous ideas coming!