Hi Jeff, I bought and sold NN in the US $42 -48 range couple of months ago and so I missed the recent run up to 69.However having held NN since 94 I am still looking to get in.Watched it closely the last 2 months. Recently ( 2 weeks ) I have been debating when to get in.
My concern is the very high PE and what appears to be a tendency by NN to put a lot of their earnings into R&D, which is what got them in the forefront of the telecom revolution but which is not always appreciated by bean counters who look at eps. Also I think that it is highly owned by institutions from the get go who play games as usual.
Right now though there is some real concern because of the monetary crisis in Asia an aerea where NN wants to expand. I don't know if the fall out is over yet.Merrill-Lynch feels this will take a few days to play out.So at present making a call to buy NN requires one to have,
at least a small one, < gg >, crystal ball.However I am willing to at least listen to what you and other NN threaders have to say. I understand that they are educated guesses so don't wory, spill it out!! < gg >.
There is some, thin support level at 54 but any breakdown will take it down to 42-45. Is it possible that as many tech comp have done recently, there may be a fear of eps shortfall, or, that they haven't met their whisper numbers?
Once I get back in however I promise not to sell it for a very LONG time, gg. Thanx,
TA |
