I traded this stock last time it got to the 20 level and rode it for a couple of points. I'm a short term player, and put Xerox back on my radar screen as of Friday with the latest fiasco. In my opinion, the stock may have a small pop and then sink into the teens. Similar action to what occurred with the last few bombs they dropped, but at higher price levels. I'm personally hoping for the 15-17 level for a trading buy. The company is a mess and they just replaced the CEO with an 'insider' Xeroid. It remains to be seen how well she and Mr. All-hot-aire will do in coming months. Keep in mind that these bozos said they would see 'accelerating results' in the second half of 2000 a couple months back. NOW, they are saying 'uh, let's make that 2001'. In addition, they announced some type of 'problem' in Mexico for an additional bottom line hit. I doubt they have any credibility left on WS... They guys have been messing up for decades, keep in mind their PARC research center invented things like the GUI, and Xerox has never been able to capitalize on much of anything. That said, a company with 20B in sales that might sell at a market cap of 10B is worth a trade in my book. We shall see if it gets there.
Regards,
John |
