+0.04 (1.75%)
And we're back to $2.33 today with CNIT. A pretty obvious range seems to be forming, with the stock trading between $2.20 and $2.35, occasionally going $0.05 further in one direction or the other. This has been the case for the past three sessions and, given CNIT's history, I wouldn't be surprised if it lasted a few weeks, especially if volume remains around 150-300k. That said, knowing this gives us an opportunity to make some pretty tidy earnings. For my part I continued yesterday and today with limit buys at $2.25 and limit sells at $2.32 and $2.35. I'm setting up some more orders for the next few days.
One positive sign today was that, besides a very brief open in the red, the stock traded in the green all day long. I suspect there are some machines selling at $2.37-$2.38 given that every attempt to give the stock some momentum is shortly met with sellers at that level.
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