long, you mean "invest" in Ariba for the long term?
it would have to drop to less than $ 10 billion market cap at least to be in my comfort zone..., so no way.
and then again, there are better opportunities elsewhere, more solid companies (just to mention one: EGRP, trading at 2.5 times/book value and 3 times/sales, and profitable).
it's pointless tying up your money in a long-term position in this sideways or tanking market, unless you initiated those positions a long time ago, like, say, late '98.
play ARBA the trading vehicle on the long side for a few points? maybe.
as i said, it's a bit oversold now (RSI 20) and due for some reaction rally.
it could easily drop to the base at $ 100 before that happens, though.
maybe i covered too soon, because i have a feeling this quarter will dissappoint..., but my gains were too tempting to leave them on the table, and came even faster than i expected after those few days of indecision up there at the top when the stock looked invulnerable to some here.
if you really really like this company and can't wait to buy more, then there's some support at the 200-ema at around $ 105.
please take a careful look at the charts i posted today, i've drawn those trendlines, it might help you decide.
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"How about going "two for two". Are you planning on going long on ARBA and at what price?" |
