OT re EMC:
Caught the falling knife on that one, timed it precisely wrong. When I saw yesterday that support at 50 was, yes, totally and completely gap-through high-volume broken, I said to myself, "Oops, guess I was wrong. Well, it'll probably come back to the old support/new resistance level at least once." So I entered an order to sell all at 49, and waited............still waiting............
The 2-day range for EMC is 50 to 34 (off from a high of 105 last year). Amazing volatility, considering this ain't no dotcom concept stock, this ain't no highly leveraged telcom startup, trying to sell satellite phones or wireless internet or something else for which no proven market yet exists. This is a big cap with a long track record, a strong franchise, no debt. And the stock goes into free fall when they "warn" that sales this year might increase by "only" 25-35%. We must be near at least a short-term bottom, if there are many people who are getting as scared as I am. Geez. Things like this can just freeze you into inaction, makes me want to sell everything and go to 100% cash. Yup, that's the feeling at bottom capitulation days. |
