Hi Patsy,
I'm still long T. I bought in on Jan. 2, as part of the 'dow dividend approach', also referred to as the 'foolish four approach' on the Motley Fool website. As luck would have it, International Paper was selling for about $1.00 less than T was at the time, thereby eliminating IP as a selection in the 'foolish four'. As of Friday's close, IP is up nearly 11% and T is down nearly 22%. The other selections in the 'approach' (GM, CHV, MMM) are all up from 4% to 12%.
Let's face it, T is suffering from a lack of leadership. That's the message the market is giving out loud and clear when CEO Robert Allen announced his successor. Prior to the announcement, T's price was starting to pick up on the expectation that someone meaningful would replace Allen. That didn't happen, and promptly T's price drops 10%.
And it has continued to drop ever since.
Allen should have been replaced long ago, but wasn't. That tells me the 'bored' of directors are just that and nothing more. Right now,
I'm trying to decide whether to take my loss and move on. |
