David,
It is not gloom, but I think you are missing the fact that this is not considered a "good" company any more. They played the Clinton Game with the Street, but in real life you cannot deliberately mislead people and escape paying the price. Frankly, I am amazed that shareholders of this stock, especially long-term holders, are not insanely angry with PSFT management. It was all hunky dory in September, right?
The Street obviously, and rightfully so, expected a lot more from the last quarter results, and a lot more from the forward-looking statements, based on the conference call, and the much-ballyhooed "integrity" in guidance from the company and "quality" of the company. Political Correctness has no place in the stock market. Look at Gruntal today, saying that ORCL will grow more quickly than PSFT.
You should understand that bottom fishing is a diferent animal. Some don't make it out. Some take a very long time to get out, and do it slowly. The opportunity cost you potentially pay is very great, especially in situations like this, where a Darling rightfully gets corrected.
Hope this presents another perspective. If you really believe in the company, now if the time to forget you own it, and don't check the price for a year.
Regards,
G |
