Yeah !
The key is volume. The lower the stock gets, the more increase there is. More than 30 million shares, Friday. Typical of market turnarounds. Watch for a day in the next week or two when all the decide the bottom has been reached. All are going to want to load at the same time. In a matter of hours, things will reverse big time. Time for the shorts to start watching their ass, the long road to recovery will have begun... Too late for me to sell anyway. I bought in 1995, and have held up to the same number of shares, though, I have sold some only to buy again. I'm still making money on this one, but never like I was two years ago.
I still have great confidence in management, and, like you said, market conditions tend to change. For me there is no contradiction between a NASDAQ at 1300 and a NASDAQ at, say, 7000... Time frames between the two can be very narrow, as was a NASDAQ at 5000 and the current level. Companies like EMC have suffered a lot but are improved in many ways, and well positioned for the inevitable pick-up in activity that will follow this downturn. Pricing power will come back. Imagine when all those clients who have postponed improving their systems decide, more or less all at the same time, to get on with life and start investing again. Business brutally came to a stop, it will start moving again, just as suddenly. How are companies like EMC, that have severely down-sized their operations, going to manage ?
Relax everybody. From here, things have got to improve if you have the patience. In the meantime, summer is here, (or coming at a lake near you, in Canada where I live...), and, fortunately, there are still things we can enjoy.
Cheers ! |
