Plumtree Software, of which I am intimately familiar, warned on thier number a few days ago and the stock slid 20%. They also said in a press release that they may be out of compliance with some price reduction clauses in thier GSA contract and that they may have to take a charge to get back into compliance.
As you've gathered from this blog, I look at stock charts and I try to gleen future direction from past performance. As I look at Plumtree (PLUM), the future doesn't look bright. I'm going to say that the stock price will rise above $4 soon, say around $4.15 and then it's going to head South again, like to the $2.90 level.
If you own PLUM, my advice is to not sell right now, wait for it to go above $4 and then sell with confidence (I don't think it'll see 4 again for a long while, if ever). Watch it closely. I don't think it'll take long for it to go back to $4.
