John: my guess is out of that 89 target, 85 will be achieved by the end of the 1st week of October itself! An extremely simple minded TA here (though it was output as the essence of watching MSFT for the last 10 years): looking at today's action, a substantial number of smart-n-nimble shorts etc. covered today, and would continue to do so in the next 2 weeks. And when shorts relieve pressure like this, MSFT bulls come into full swing action, and none of the holders want to sell (generally) for a quarter or so, because of the perception of the guaranteed greener pastures ahead, from these rock-bottom levels now. Also, Mr. Big Bill never lost anything in his life so far where it matters, and this would be no different - thats a strong belief of the masses, held for so many years now, and today was the first glimpse into the possibility of rejuvenation of the corrective phase of their long held belief ... when things start rolling in the right direction again! And when the emotions of the masses are in such a state, would-be-MSFT-sellers apply complete breaks, holders anticipate riding the ever rising waves, call-writers close covered positions, shorters crawl-back in their burrows for a quarter or two - and what we are presented with, then, is the absolute celebration of MSFT bulls.
regards to all,
-/Sonny.
p.s. OT: also, please check out how the IMGN story is unfolding. Some other extremely attractive issues at these levels: BMCS, CPQ, DGV, QCOM, MU, OMKT, SSOL, NSPK and BNBN ... indeed a kid in the candy-store situation friends! :-) |
