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Fasten your seat belts once again. Asia was broadly lower, shall I say sharply lower? Hong Kong down nearly 3%, Nikkei down over 2%, Singapore, India both over 1.5%, China about 2%, FTSE over 3.5%.
There is surely another down day in the making and hopefully we’ll have some nice opportunities when we start next week. I am over 55% in cash in looking forward to this correction, if I may say.
Countrywide (CFC) has give an unprecedented warning and stock is down about 15%. Something you don’t wanna miss for a bearish play (52wks low is 23.64 and I am quite positive about its opening below that). Is it another bankrupt in the making?
Looking forward to it, Profitable trading, OP
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{ 1 comment… read it below or add one }
it didn’t open below the 52wks rather it found support at $25. Based on 10yr chart, 25 still shows pretty solid support. Once broken, it may touch $22.5 without too much fear. Cheers.