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Technology Stocks : EMC How high can it go?
EMC 29.050.0%Sep 15 5:00 PM EST
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To: jhg_in_kc who wrote (8959)1/27/2000 2:25:00 PM
From: Bill Fischofer  Read Replies (6) of 17183
 
EMC observations

After listening to the EMC conference call I am more confident than ever that EMC remains a core holding. I've always felt that if someone forced me to sell all but one of my stocks the one I would keep would be MSFT, but EMC is now the one I would keep. The only certainty in ecommerce is that it will result in gargantuan increases in the amount of business-critical online data in the years ahead, and this message comes through loud and clear in Reuttger's remarks and confidence about the future. Of particular interest is EMC's push into the NAS space which EMC intends to dominate the same way they own the enterprise space. Quite simply, there is no area of enterprise storage where EMC is not already or intends to be shortly the undisputed leader. This is as close to franchise nirvana as you can get in the technology world.

That having been said, it is certainly true EMC has been volatile of late. But the current pullback is little different than many others that the stock has seen over the past several years and like those before it serves only to provide an opportunity to initiate or add to positions in EMC. Consider that on January 3rd of this year EMC hit a high of just under 117 only to pull back to 95 over the following three trading sessions. Similar short and sharp pullbacks have occurred most recently in December, November, and October. In the current pullback we hit 125 on January 25th and have now pulled back to around the 105 level. The 50 DMA sits around 101 and probably represents a good accumulation point if we reach there.
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