GLW acted very according to script, made up yesterdays drop and then some. Stock closed at 193 + 14 1/2 or so. 190-200 has been resistance. either it will retrace back to 175 area or break on thru and challenge the old high of 220 area. I am expecting GLW to annouce a 2:1 or 3:1 stock split this fall.
Well, we got our 1/2 point raises today. The market kinda shrugged it over. Coming on top of several strong days, I am expecting some pullback and retesting, but so far the market is looking like its seen its bottom and has already retested once.
NGH backed off a bit after its torrid + 3 run on Monday. The number of bidders keeps getting more impressive. There are only a few companies the size of and with the name brands that NA (Nabisco Holdings) has. NGH owns 80% of NA but carries with it a tobacco taint. When a company like NA/NGH comes up for sale, the big boys have to play or miss the chance to ever acquire it. I am thinking that the price will wind up being higher than most estimates. AT this point, I like playing it via NGH, more leverage. NGH may wind up a shell company with a TON of cash or stock of the acquirer of NA.
BFO - Bestfoods and Unilver are playing cat and mouse. I feel it is highly probable that BFO will be acquired, and by Unilever. The only questions are the time and price, imo. I am guessing price in the low to mid 70's, though could get higher. BFO, presently 64, may wind up doing a self-tender or dutch auction, or seek a white knight. Maybe NGH will buy them. ggg.
MUEI - Micron Electrons, a box maker, is cheap in the $10 area, looks like it might make make a 10-20% move from here.
INTU is showing signs of life, barely. Stock is in low 28s, has good earnings and internet position, but just can't get off its *ss. When it moves, should move 10-15 points, hopefully north.
EBAY seems to be gearing up for a major move along with YHOO, these two companies are the class of internet with proven business models and experienced leaders. and, oh, yes, earnings, albeit teenies.
CMGI is showing life too.
Hey guys and girls, its getting lonely on this thread. come on down. larry |
