My, oh my!!
Gotta love that CA (Computer Associates). The 9+ BILLION dollar hostile take over attempt on Computer Sciences is basically in the trash now. Wang (CA CEO) sayin' this morning that he'll now pull the offer in a couple of weeks, as Computer Sciences has rallied a major attempt to halt the take over. Shareholders seem pleased that there won't be an aquisition of this magnitude, (the biggest acquisition so far), and the stock is running. Pushing the recent resistance line at 50, big volume. Morgan Stanley just reiterated a strong buy which can't hurt. ;)
The brave might want to initiate a partial position at the current levels, with the knowledge that it will probably pull back toward 48ish at least prior to moving much higher. In regard to what you've said recently, if you wait for the pullback that doesn't come, you're S.O.L...so perhaps the partial position here, pending the pullback, and then adding to the position once the direction is confirmed. It's already run up today, and with the upgrade, it will be strong, but I did want to give a heads up.
I believe this is worth a look by those interested in CA. Long or short term, you will make money unless for some reason, the merger DOES go through, then there will be a retracement, probably a gap down in fact, but the gap up this morning on the news might be enough to persuade Wang to do as the shareholders wish this time around...for once. ;)
News to bring y'all up to speed:
biz.yahoo.com
Quote:
techstocks.com
Chart:
techstocks.com
Give the butterball another kiss from Aunt V. :)
xoxox,
V.
P.S.
Just had to get on the INTC bandwagon, this am too. ;) I think it will actually be a RARE long term hold. A month, at least. tee hee hee |
