I still contend that the current selling is largely driven by investor impatience in the face of the "raging bull" (which is raging again today, by the way). This theory has been derided recently (I won't mention any last names, George E. <GGG>), but I think the power of the chase has been severely understated. It's VERY hard to sit on the sidelines when the Dow is kicking ass nearly every day as evidenced by this post:
techstocks.com
Heck, if things were different for me right now, I would have liquidated and pursued the momentum stocks - that's usually my bread and butter. But I have some other demands in my life right now that limit my investment time, and I decided back in January that I was going to hold DCI as a long-term play.
However, when DCI starts to show consistent price increases, I think that any selling pressure related to impatience will dry right up. Some good announcements may help, but ultimately, I think this stock needs to show some tangible results. I don't expect any major, sustained price increases until we start to see positive growth in revenues and earnings (which I hope will be this quarter). Just my opinion, and, of course, if DCI makes some MAJOR blowout announcement that we don't anticipate, all that could change in a blink.
PA |
