>>>Based on what? That the price is lower?<<<
Analysts are well known for downgrading a stock at the bottom, and upgrading at the top. I remember seeing a fellow named J. Vinick pushing MU as the best value in the world at 70, 80, 90. Or was it 90, 80, 70? Oh well. I recall APM getting downgraded in the low 20s, it had strong buys on it in the 60s. Very often these analyst fellows are selling when they encourage you to buy, and buying when they are saying sell. It makes sense, they need people on the other side of the trade.
I am not saying that all brokers do this, by any means. But the ones who do are usually the loudest, IMO.
I was really surprised by the price drop after earnings, recall that I thought it would get into the 60s. Seems at least the run from 50 to 58 was people playing the earnings report, and they're pulling their money out fairly quickly. Inflation jitters don't help the situation either. I expect we could see the 40s next week. Well, of course the 60s could happen, what do I know. I will go long this issue if it turns around from here and breaks 59 on any significant volume.
FWIW
Barb! |
