dennis,
I agree that trying to chart or guess DELL isnt for the faint of heart, but Ihave noticed a pattern that has been quite consistent. DELL runs up before earnings, and that is a known fact. From two earning seasons ago, the stock was at 62 after the split. So in 6 months the stock has risen nearly 100%, in the mean time it went from 98 to 80 to 118 to 101, thus a pattern is in place that suggests higher highs, and lower lows.. After the earnings run-up, or an after correction run, it settles, to what we are seeing now.. in the 108 area.. I think it will gather steam again within the next 10 days and make new highs. It would help to see the market internals reverse, but the NAZ has already corrected to a point that we may see a run again.
After earnings the same thing ought to happen to DELL, it ought to base again, and continue until somthing changes in their earnings growth which will not support a higher PE. If DELL splits though, last time it split at 110 or so? It went to 130 before the split happened.
Just a few side thoughts....
edit) DELL testing 110, NAZ reversing... this might be a good one... |
