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After the Analysis, now for another one ready to trade.....
This one can go down in the Guiness Book of Records for the Cash Cow of the Year-award.
This company's historical progress is just an (+0,+100) Oscillator by itselve, see the left chart
since 1984, eg and is thus none, zero, nil, niks (no progress at all).
Current break(fall out) is @ €1.75 and that will also be the Stop/Loss for this downtrade***.
Target = 0.556 and for me a satisfiable trade will be when the highest GAP above 1.31 will
get filled first, and/but I am out for the full fill of the lowest GAP at 0.898. As a result of that,
than the Chart too will become so weak that a single crashday at the end of this year or one
throughout the next coming 2 year bearmarket, will be sufficient to reach the final Target(0.556).
Company(Corus) will than be back to were the Chart originaly started: 1984 - €0.65 (and
economicaly speaking, that's also 20 years wasted/down the drain !!!!!)
Corus is weakly positioned in the heavy steal industry, a sector that has, throughout the decades,
hardly ever made any acceptable profits, let alone show any growth in profits.
Its main clients are the airoplane-, shipyards- and construction- and building industries, all not
that well flourishing sectors either. Add to this, that since that there is now also clear evidence that
the economies worldwide are weak-e-ning, eg well over their last year made (economic cycle) peak,
than I am also not surprised that cyclical stocks like Corus were+will be the first one's to get hit;
with for results that its shares nosedive into a well broad bear market.
***Current possitions are a few €1.86 Puts Oct00, but I will roll them over into Jan01, preferably
Apr01 series. This could mean that the strike price will be slightly lowered, eg to €1.80, but
"so be it". And since that capturing the full dive down to 0.898 is my aim, than I will also make
this into a bearspread, by adding to my position some longer running options, eg ones with
the strike years 2002 + 2003.
Regards,
Ton Maas
ms-irb@xxxxxxxxxxxxxxxx
Dismiss the ".nospam" bit (including the dot) when replying.
Homepage http://home.planet.nl/~anthmaas
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