OT EMC:
They are forming a double bottom, now, with the 9-10/01 lows. On the chart, it looks like a support level. But the news for EMC is bad, none of the optimism I've heard from other companies. Forward earnings guesses still getting cut for EMC, while everything else in my portfolio is reafirming guidance, or raising it. I'm afraid there is not too much upside in EMC, we may be in a bottoming period, where we bounce at 10-11, for a looooooooong time.
I'm holding a lot of 04C20s, which I've bought in the last 6 months, with the stock between 16 and on down to the lows. I will probably lighten up fairly aggressively, in the 15-18 area, and buy back at 11 and lower.
The 2005s become available in May 2002, if you want LEAPs, I'd wait for those. Probably do just as well buying the stock, until business spending comes back, and EMC finishes becoming a software & services company.
Of all the things I've bought in the last year, EMC has been the biggest dissapointment, both the stock and the company performance.
Summary: with the stock at 11, I see little downside left, but not much sustainable upside, either. ALTR at 20 is a much better idea. |
