Buying opportunity or crisis point for Cost Plus speculators — CPWM
Cost Plus World Markets has taken a week-long beat down along with the general market, and has arrived at a crucial support level:
Now the tricky question is, do you think this represents a good buying opportunity (we have made some good coin on this blog trading CPWM), or is this an alarm that screams “get out?” (I’m not in, currently, but obviously someone is).
It’s a very tricky call. If I was trading CPWM now instead of VIX options, I think I would demand some good price action, and enter buy orders at $9 or thereabouts, leaving some $$$ on the table to be sure, but avoiding a ride into the abyss.
No Comments Yet