February 29 2000 at 7:37 PM No score for this post
Chiquita [CQB] from IP address 63.22.176.165
I read a previous post on CQB (not sure how far back).
It seemed to have several years of accumulation followed by a downtrend - that has recently been broken. Am I reading this right? My concern is that the accumulation and downtrend did not seem to have quiet volumes.
What are the thoughts of someone more experienced looking at charts with "Ted Warren"'s eyes.
Thanks for any help ...
This message has been edited by tedwarren from IP address 209.240.222.131 on Jul 21, 2002 6:18 AM This message has been edited by tedwarren from IP address 209.240.222.131 on Jul 21, 2002 5:21 AM
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I'm new to the TW method, so don't take this as gospel...just random thoughts!
Looking at the latest chart, I'd be hard pressed to call this a break in the downtrend. This quick upturn (12/99) - as seen before (3/99, 10/98)can often be deceptive. The stock would now appear to be back on a downtrend.
Bryan
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I checked out CQB and placed a buy order with my on-line brokerage. After second guessing Ted and losing money, then mindlessly following his lead and increasing my net worth by 15% in 8 months, I'm sold. I only dedicated 25% of my portfolio to Ted's way for that 15% gain.
Over & Out
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CQB's chart in the Horsey book shows a decline through 1998 through 2001. My chart goes to the end of 2001 where CQB trails off to what looks like under $1.00 a share.
The BigCharts CQB chart doesn't show this history and picks up again in 2002, showing prices of $14 to $18 per share.
Something happened between then of 2001 and mid-2002 to radically increase the price of the stock. I don't see any evidence of a reverse split in the news.
None of the posters above-- Dan, BryanO, Chuck or even Tony Church-- were really helpful in analyzing CQB because at the time they posted, there was absolutely no indication that one would buy CQB.
I'll try to investigate CQB further. It looks as though it might be finished a downtrending accumulation phase and be on the rise. If so, 20 could be the point at which I get in and, using a TW doubling in 2 yr. avg. method, (my particular TW method), I'd be looking for $40 in a few years.
I can't get in yet though because of the weirdness of the Bigcharts missing data and the strange dropoff in the Horsey chart.
This message has been edited by tedwarren from IP address 209.240.222.131 on Jul 21, 2002 5:29 AM
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The CQB history gets stranger. I just looked at an MSNBC related chart that shows the price of CQB at $250 in mid 1992, where my Horsey chart shows $20. It's as if there was a reverse 1:10 split recently.
As well, the news on CQB shows that it recently came out of bankruptcy protection. Yet the company has factories in 60 countries and manufactures something everyone needs-- food! The complete CQB story must be very interesting.
Anyway, the current price of around $18, corrected for what appears to have been a reverse split, is around $1.80, which is about where my Horsey chart leaves off in late '01.
Some brokers are strongly recommending a buy, but from a TW perspective, it may be way too early.
I'll see what I can do about getting opinions from the other TW minded people in other forums-- although I don't hold out much hope for that since those other forums are so full of... other types of analysis that clouds the issue.
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