Barry, I am still long CPQ, however, I sold half of my original position OCT/NOV 1997. (CPQ is in my core investment account whereas the DELL position is in my trading account.) Relief would be welcome, but my original moat target was 110. Now the retracement target looks like 120.
I remember runs like this with CPQ, but CPQ would be trading with a PE of 18-20 before the surge, not a PE of 40-50 like DELL! Even if you threw in GTW's and MUEI's volume, book values, earnings etc., into Dell's, I'd still feel Dell is currently over valued.
I don't play the options table.
Good Trading, LF |
