The Bernstein Brief: Bulls' Stock Plunging
By Dan Bernstein--
CBSChicago.com senior columnist
(CBS) Like the markets of late, the Bulls are in free-fall. The NBA All-Star break finds them at 27-25, losers of 13 of 18, including four in a row and five straight at home.
Beset by injuries to one-third of their roster, whatever that was in Wednesday night's 113-90 loss to the Hawks looked like a kind of bottoming out. Doug McDermott described it best by saying, "It didn't even seem like basketball."
Business analysts will look at a stock or a market and make a bottom call, announcing that their assessment of the risk environment indicates the best time to buy. Sometimes, the fundamentals tell a truer story than any surrounding panic, with measurable data more reliable than fickle human behavior.
Perhaps a technical analyst (that unique brand of chart-reading voodoo mysticism) would look at the Bulls' proximity to .500 through the prism of "support level." Others might see a potential breaking point, through which they could fall to new lows.
Some might predict a "dead cat bounce," that brief rebound due to positional recovery buying based on the idea that even a dead cat will bounce if dropped from a great enough height.
Bulls stock is cheap. Anybody interested?
Dan Bernstein is a co-host of 670 The Score's "Boers and Bernstein Show" in afternoon drive. You can follow him on Twitter @dan_bernstein and read more of his columns here.
