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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: dennis michael patterson who wrote (688)2/22/2001 9:39:31 AM
From: Paul Shread  Read Replies (2) of 52237
 
I have a downside target of 34 on EMC, FWIW. It doesn't mean it'll hit it - INTC and IBM missed their downside targets by 5-10% when DELL and MSFT exceeded theirs by 20%+ - but it means it's still a little ways from where it has historically bottomed. They should rebound like crazy at some point, given how hard they've sold off, but they're also facing classic disruption from NTAP - they ignored the lower end of the market, and now the low end products have become good enough to challenge EMC's high-end business. EMC, CHKP and JNPR are probably about the only bubble stocks left of any size, IMHO.

AMAT is amazing. Definitely evidence of a major bottom on that one last week. TLAB is probably my favorite here for fundamental reasons; the RBOCs are going to wind up buying T and WCOM.

If we go down further, I'll be adding to CSCO. My ideal, rock-bottom, blue-light special price on that one is 21.60, or 30 times FY 7/01 estimates.
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