It is confirmed. CFC has now crossed the 50 and 200 EDMA where the 50EDMA is now below the 200 EDMA. This is a bearish sign and also, CFC has failed to mount any up days in materially strong volume, instead majority of their up days have finished on the lower end of the price range on lack luster volume. This is not bullish.
I predict that the stock will continue to see "significant" downward pressure and may be ready to test the $32.50 historic support level, which I believe may be breached by April 26, 2007.
Have those shorts and puts handy. For the adventuresome, the April $30 puts still has some value and would be a good "outside" chance bet on some huge gains.
It would be prudent to stay short or buying the July $30 puts or out further.
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