Wednesday, July 27, 2011

Change in daily coverage

CNIT 7/27/2011 EOD: $2.09
-0.15 (-6.70%)

Alright, well today was a pretty tumultuous day for the markets, presumably because people are freaking out about what might come from the debt ceiling deadline next Tuesday. It hurt all equities. Everyone suffered, favorites AAPL and GLD included. CNIT and other small caps, of course, took a severe beating, and CNIT ended at a measly $2.09, with an AH price of $2.05. As I mentioned in an earlier post, I took the cautious route this morning and converted my assets to 80% cash. This included my CNIT position, which is now only about a fifth of what it was before. I did this because I anticipate that, at least for a few weeks, things won't be as rosy as they've been for the past month or so.

I'm also going to be changing the way I cover CNIT from now on. Instead of doing "forced" daily updates, I will post updates when something significant has occurred, or when there is a particular technical indicator I feel needs to be shared. In other words, if one day there is really not much to learn, I may not post the price/change, etc.

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