There seem to be 2 levels of support/resistance left: in the $40.25 and $36.50 areas... If the market continues to fall, I believe both levels will be broken through before the week ends...
Bad News are far more likely than good News, at this juncture, which would compound potential problems for the stock... Even though the stock is very oversold, I continue to be bearish and maintain a large Put Options position, while day trading the stock up and down...
BTW, observe the steady progression of the Negative Tangible Assets Position, which increased from $1.5 Billion to $2 Billion in the course of one year: this raises suspicions for a company claiming that "its cash provided by operating activities for 2001 was $775.6 million"...
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