Michelle and All,
Hi. I just want to say that i don't know a heck of a lot about this sector, but i agree with what Michelle seems to be saying. Namely, that the problems with enterprise software seem to be industry wide, and that if Y2K is the reason, it could be a year or more till we see a good recovery.
MANU probably could have done a better job of guiding analysts expectation lower, but i have to say that it was definitely more fair to all that they hustled to get the quarterly report out early, instead of letting the big institutions have the news in advance of the small investors as is the usual practice.
MANU is not going out of business, and someone might decide to acquire them. Consolidation is happening across the board.
Because i got blindsided by the early earnings announcement, i have about 1/3 more shares than i really want to have (had an open limit order for market open Friday, and what with the 6-hour time difference in HI, I very rarely get up before 3:30 AM to see the news before market open). Oh well. Will be moving back to the Mainland in a few months.
My MANU position has a breakeven price of $13.50, and it's only 7% of a long-term IRA portfolio.
Does anyone here seriously think I should dump it?
Anyway, I was very heartened by the after-lunch buying last Friday. And the lack of a gap down on a selling panic. There was no selling panic, only 1.4 M shares traded, and lots of buying in the PM. Based on the chart, I think MANU is way way oversold, and any good news should give a pop back to 13-15, the immediately previous trading range, with some chance of breaking through up to 20.
At current prices, MANU is below the two-year low. Where were they two years ago? It was just pie in the sky. Comments?
David |
