Replies to post #1297 on The Colonial BancGroup, Inc (fka CBCGQ)

[big_dog37010]

I'm not so sure this time...been doing this for a whil now and the indicators just aren't convincing on this one. Golden cross formation is really stalling, volume is near dead, bollies are drifting sideways and someone clearly wants this thing down below the 50 DMA. Not sure why, but the longer it stays depressed, the harder it is to dig out.

[Cordelia]

I've traded this a few times since early March. I'm thinking about taking another stab at it, now that there's been consolidation for the past few weeks. I know volume looks a little lackluster, but usually it's best to buy when still quiet. Patience is definitely key on CBCGQ, but the story behind it is interesting and worth following. GL