CNIT, as expected by some, is taking a "rest" so far today. It was down significantly, going all the way to $2.45, before experiencing a short bounce that saw it go back to $2.65, midrange between open and LOD.
I took this opportunity to buy extra lots at several points, some of which I've already sold for a quick profit. More details on that later.
This morning was also very educational, particularly in terms of defining some potential midday resistance and support areas if CNIT does trade within a range for next ___ sessions. I commented on 7/6 that the new range would be roughly $2.50-2.80, with major support at around $2.30 and major resistance at around $3. With that in mind, I have a couple more limit buy orders set between $2.30 and $2.50. The action this morning can help decide more specifically where to set these limits.
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