I should note that the chart and volume characteristics we are using are unearthing stocks which have gone on to perform extremely well beyond our initial trading period. Looks like a bad opening, so we are going to step aside today. Paine Webber shows a double bottom in a trading range stock which could take this up to 43.87. The market volatility is making trades, either long or short, extremely difficult. We are getting head fakes and failed signals.
Volatility is akin to playing tennis is a swirling high wind.
Sometimes it is better to take the day off. ESPI is cheap, thematic, and is a relative value in fiber optic, ISP, DSL, and web hosting business. It is highly leveraged with a big burn rate but this may force it into the hands of a suitor. Selling at a colossal discount to its peers. Off the radar screen until recently.