seems like you are in a good place with lots of capital to invest. : )
i hope to be there one day but on days like the last 3, it seems like it will take longer than i expected.
i think the FPO is a huge factor because
1) if you read the boards across the internet investors are pissed that they announced 33 price when previous close was above 36. about 9% discount. i think the price shouldve been closer to what the previous close was as to not shock the system.
2) increased OS (small % increase but this will affect price if same mkt cap is kept)
3) increased tradeable amount of shares (im sure many people rushed to lock in small losses or profits and figured they could buy cheaper)
the euro issues (including germany failed debt auction) obviously contribute, including china's views, however, i feel our movement is more influenced by the FPO.
no one can be for certain but last time we did a sudden drop and touch off mid 31s we ran back up to 40 within 5 or 6 trading days (this was about 9 or 10 trading days ago).
i feel there will be a lot more resistance above where we are because we crossed a lot of support levels on the way down.
BB with 20 has middle at 35.16 and lower at 29.28. since the start of the run in september we didnt enter the lower half of the BBs and today we have touched and spent some time below the lower band.
50-day SMA is 27.24 so there is still a few dollars to fall if investors choose so.
the market loves to put people in their place, especially when they start thinking they got a better feel of things. my new spot is my old one - back of the bus. ha!
