Testy, aren't we?
Guessing the best entry point right now requires chicken entrails. Back in early February it was easy, buy and hold was a no-brainer. I sold last Friday. The nice peaks and valleys on the chart suddenly lost their predictability. I think the anticipation of earnings coupled with the three month run-up now has some folks wondering what the trading range for the stock is going to be. Last years highs would be nice, but there have to be some block-buster quarters before we see that again. Best bet I have for the next two weeks is high volatility. I'll be buying in on any significant weakness below $C40 $US28, but I won't be crying if it stays above that level. I'll catch it again if it takes off, even if I miss an intermediate low. Long term this is a clear buy, but only if they execute. I anticipate the run-up or down based on insider knowledge of the earnings to occur on or after the May 29. I think today's drop is more to do with the general drop in techs, (my Intel look sick), than to do with insider trading. Volume in Canada was average, about 500,000 but was not much more in the US, 580,000 which is low.
YMMV |
