"Yes, 51. I doubt that will break, but if it does, it's going back to the low 40s."
I like the way you think. Are you a frog? You seem to understand that when stocks go below support, it is a short signal, not a buy signal.
MSFT's IPO in 1986 at $28 a share and the glorious run, 8 splits, was something to behold. All that said, even the cleverest management won't make those shares redouble again. Yet, MSFT has good volume and is not going out of business any time soon, therefore it is a "safe" stock to trade. Notice I said "trade". Position players stuck from 120 may never recover their losses, but there have many worse performing stocks than MSFT recently. Do I think MSFT will raise estimates, well, I don't know. All I can do is lay back in cash waiting for a "play" to come along, jump in and get my share of the money, I'll never get it all, then jump out escaping the clutches of the greedy market makers. Frog |
