I hate it when my estimate or opinions happen to play out (at least partially true)...(pull back of course is the obvious answer, I personally prefer consolidation and an overall negative market sentiment for the week thus far...But as I said several days ago, and was heavily ridiculed for it...Namely that given the PPS, the risks are higher...And that I think is what causes major buyers to stop and pause, or to flip after a 25% gain...And when I mentioned that the things were rocky--in other words, that we're not out of the woods yet, I was definitely clear and feel the same way. the biggest problems overall are behind us, the biggest things that can directly affect us still remain...And with the POR dragged out 30-60 days, are are these legal fees going to be spent on developing an effective strategy to exist Chapter 11, or, is it merely so attorneys can bicker back and forth over wages for the next several weeks...Lastly, if the risk has not changed, this news headline taken from Google--albeit small and practically insignificant--should make you stop and ponder:
"Oral hearings held in NAFTA arbitration over Canadian pesticide ban Source: Investment Treaty News - Chemtura Corporation's dispute with Canada over the phase-out of the agro-chemical Lindane headed to oral hearings in September after 8 years of legal wrangling."
Again, 95-99% of things are going terrific, but it's not a done deal yet, and this was and is still my same position...And yes I watched the thousands drop from my portfolio the past few sessions like many of you, but we now have a long time for things to be dragged out...We sat in the .20s because not a DA^^ thing really got done for weeks...And our Equity Committee, which I think will be successful, has not gone through either, so treading water fits perfectly given all that...
Personally, however, I see it as a nice base and consolidation, where we shall launch to 1.50 and higher when one of many strong news announcements are made IMO. Please feel free to analyze or jump all over me like before, I can take it and love he debates, just remember we are on the same team (holding and long with my position)...and feel free to write messages but I can't respond in private so I will try my best to do so in public where I see fit.
And all you chartists...And I'm a huge one myself--though I don't have the animation down yet, things are starting to shape up very nicely for the next move. My advice, follow the docs, read the DD on here, but above all, be patient.
See ya all in Cabo.
-Kid
AI
