Freeus...Yes, DELL held up well today..I wouldn't expect anything else from DELL, a reflection of the top-notch company that it is....However, just as the capitulation of all top-notch companies recently came through at the last big leg down, as the last bastion of quality stock prices fell, you will see it happen again.........
I am listening now to a Mr. Wellington on Cavuto's Business Report...He called a top in the Market in April..He just said he sees a Dow of 6400..We had a run-up that couldn't be sustained, and now we will re-test 7400..He suggested that we really haven't seen panic selling yet...He thinks when that happens DOW down 1000 points in a couple days is possible...........I haven't gotten my ideas from him and I refuse to short anything....A couple days ago, like Warren Buffett did, I sold to raise substantial cash.....Today I had a GTC order to buy a partial position in more DELL at 55....I have canceled that order.......I believe at some point to be able to pick up some more shares in the 40's....Please don't get me wrong, I Love DELL..I am not short and would not put my money on the line to even try it, again (did that once, didn't like it)......I do think all good companies will be cheaper than today's closing prices.
Regards, George |
