TJK,
The buyback is stretched over a 2 year period, so would they begin purchasing into this major push higher? Yes ADBE believes strongly in their future, but they also know how the Street punishes them mercilessly if they come up even slightly short. It takes HUGE blowout quarters to move the stock higher, and miniscule shortfalls to watch it get creamed. That's why I advised my friends to sell (they got $52)...
Management tried to convince analysts that the current releases are effectively *new*, and big money generators. They're doing all the right things, I just don't like the way the stock can crumble, and I've stated my concerns for a possible weak quarter(s). 1998 is backend loaded by managements admission, So I'll look to get back in as time goes by, and a good entrypoint shows itself. The stock may be 10-20 points higher by then, at which time a healthy momentum will be established, and the trading range players will be gone.
Buy high/sell higher can work as well as buy low/sell high in this instance.
Cheers,
Peter Shaw |
