Yes, I saw the charts.......as I said earlier, mid to low $40's could find support. I would feel alot better if NTAP's earnings were behind us rather the ahead of us.....sure, they could blow out the numbers and ntap will ride up like a rocket....they could also be a tad bit toned down on forward guidance and get killed.
Right now, in this market, I am looking for stocks that are hopefully done getting beaten down, have been in a basing mode, or looks like it is breaking out to the upside. NTAP's high PE, the fact that we dont know if she is done getting beaten down and timing, are preventing me from taking a position here in the $40's....I probably should, but last year taught me...better safe then sorry....if she rides high and I miss her, so be it, but I am going to wait and see if it's valuation comes down to more realistic levels, or earnings show it deserves such a lofty valuation.....good luck to the longs
Keith |
