Sorry Mel...
no target, and no plans for this one right now. It's just my style of trading but, I don't do a lot of bottom fishing although some people do well doing that.
The market is still showing some mixed signals and we're heading into mid-summer, so I'll continue to be a little more defensive and some shorter term trades. Let's see what the markets actually do here.
But, if you look on the NYX chart to the left, you'll see an old level of support around where it's at now which is in your favor, however, not much volume ever traded at this old level, whereas there was a lot of buying volume at higher levels. So, there are people underwater in this one. I'd say be prepared for a shakeout or climatic sell day later if the markets do start correcting more in July, but, I wouldn't recommend selling then especially (when everybody else is). Again though, see what the markets do here. It's been quite a bull, so even with more negative news coming out in general, just follow the market action and see what happens.
Remember too, NYX is looking for more acquisition(s), so be prepared for a short-term hit if/when they announce something and what the deal is. However, the fundamentals are still good for this long term, even with another acquisition, and maybe even more so depending on what they get.
I'll try to write more later in the week when I have more time.
GL.
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