To all:
I must admit I'm quite surprised at Friday's announcement by WDC.
This industry is indeed cyclical, though, and will come back.
However, for now, stay on the sidelines (generally, after a big fall,
there is a slight rebound, followed by some more folks getting out,
driving the price down further). I won't be surprised to see WDC
in the 20-21 range soon. I played WDC earlier this year (bought
at 28 1/2 (split adjusted), then sold at 38 1/2, then mourned when
it skyrocketed to 54+, then wondered what to do next when the stock
slid badly yesterday. Right now, I think I'll just stay out of the
entire sector until earnings time approaches. If QNTM hasn't warned
by then, then I'll jump in for a pre-earnings rally.
Mark |
