Tuesday, May 8, 2012

May 8th, 2012 - $MTW holdings

$MTW missed earnings badly last week and actually didn't go down at all...until the conference call. When from 14.10 to 13's very quickly.

Following along with this downward channel, it continued downwards. The channel support is at $12

Looking at the market though, $MTW can very well break this channel to the downside in the next few days. If the market bounces, I can see this bounce as well, but the recent downside volume is too big to ignore

Disclosure: Holding $MTW May - 13 puts since before earnings

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