g'day Dave - um, it looks like you ve made out ok with your purchase on 5/11. The 50dma may be a good support, but knowing BAY, anything is possible. And the 28ish resistance is also pretty solid. Of course, all things will come to pass - especially tomorrow is expiry time. I think it may not be bad to take the cue from the options players.
While I ve also not taken takeover into my considerations, I do think the overall picture of the market should be. SE Asia is getting messier. Indonesia situation will not end overnite. The peripheral problems of India and Pakistan getting into the nuke race should not be taken lightly. Then, there is the FOMC meeting. So, while I am fully positioned myself, I would suggest others with fresh money to go with caution. It has nothing to do with BAY per se, but one may want to have something for rainy days. Of course, you have always been more level-headed than I am, I am sure you can exercise with better judgement.
Best regards, B |
