Microsoft sat poised on a high ledge when the dust settled on Friday. Although the visually unavoidable plunge the chart displays so well could wait for a few weeks or longer, it’s highly unlikely the stock’s institutional sponsors will be able to hoist it to the $420 midpoint of the supply zone, never mind to new record highs. The alternative is a wealth-destroying slide into the low $300s that should bring a bounty of opportunity for the nimble, since it will be reflexively punctuated by rallies designed to keep hope alive until a bottom is reached.
MSFT – Microsoft (Last:378.80)
