The stock bounced nicely off the 23 range. Looked like it wanted to go back upto 25 1/2ish. Sag in the overall market has kept the stock near its lows. This smells a bit like INTC two july's ago when INTC was 50. AMD has achip, Cyrx had a chip, oracle and sun had network computers...the stock sank to 50ish....its now 152ish. For every seller today there is a buy. Today they are valuing the company at 24ish, yesterday 30ish, 34 on tuesday.....the market goes to extremes. If you own the stock at higher levels and no allocated properly, this can be damaging. Others will consider it an opportunity. The market is filled with diasters, they come often and they are difficult to avoid, which is why you want to make sure you are doing business properly. Ultimately, I reall, really like WDC at these levels and am buying some more today. I now have about 70% of the position i want and am glad to get these prices today.
Strong management might shore up the pricing issues and product mix and lead this company to higher earnings. I know a lot of companies with far less earnings and even losses, with prospect not nearly as bright, trading at much higher prices.
.P.S. if anyone wants to knowwhat the stock is doing (besides acting like crap) feel free to call.800.221.5676
Regards,
Steve@yamner.com |
