There are significant market-related dangers to MSFT, and that has been the case for quite awhile. The technical bounce I spoke of earlier, was as I said at the time, purely technical in nature, and the danger to MSFT remains considerable. I continue to see support at 74, and then very strong support at 67 1/2.
Depending on how bad the market tanks, and what the trial brings, the support at 74 can be breached, but from all I can see, 67 1/2 should hold.
Still, I'm not worried about MSFT tanking - in fact, the technical damage that was done to MSFT, was done already in the 80's. At this point, it will simply become oversold, and I do hope it hits the high 70's - it'll be a great opportunity to pick up some more long term shares. Now is trading time, no big deal.
Morgan |
