OT re EMC:
I'm holding a boatload of 04C20, bought with the stock between 16 and 11. I will lighten up, at 15 and up, planning on selling about 1/3-1/2 of my position, by the time we are retesting the 11/01 highs (18.5).
Of everything I've bought in the last two dips (9-10/01 and 2-3/02, EMC has been the biggest disappointment, both the stock price and the fundamentals. With all the others, like TXN for instance, the stock is 50% above it's lows, and management has been saying, "the bottom is in, for sales, margins, profits, etc." ALTR, although they haven't come very far above their 2001 lows, is making the same hopeful noises. EMC, by contrast, is still warning, still having analysts cut forward EPS estimates, and the stock is still hovering at the 9/01 lows. So, my response will be, on the next rally (sometime in 2002, I expect the Nas to be retesting the 5/01 highs at 2300), I will aggressively sell my EMC LEAPs. In increments, of course. I may take a loss there. That's OK, I've got a pile of ST cap gains already for 2002, and everything else I bought in the last two market dips, has done very nicely. Can't win them all. |
