Rinse and Repeat ... at EVER HIGHER LEVELNote how this is an exact repeat of late-March. Seriously, E-X-A-C-T.
Earnings => Price Collapse => Recovery. (Yes, doubters, recovery has already started.)
Let's review the steps:
Earnings
How it went: March was okay (not good, not bad) news.
How its going: This time the news was decidedly positive and promising - fundamentals improved, L/T debt retired, turnaround plan in place, board REplaced, RC established as King/Chair, outlook very positive.
Price Collapse
How it went: HFs chopped ~40% off price.
How it's going: F-ers shaved ~35% off price. Just. Like. Last. Time.
Recovery
How it went: Have you not been paying attention Apes?
How it's going (to go): Do you really think it's going to be different this time ... WHEN THEY STILL HAVEN'T COVERED?
What is different between these two events?
Apes start $100+ above (80% higher).
Apes learn much in three months.
Apes developed wrinkles.
What's not different? It remains that ...
Ape Together Strong.
