We have a 28% pullback from the high now.
Although I don't know how far it will pull back, my previous guess was to the 31-32 level.
Message 8068097
You replied with this comment: Well, just to offset the continuing rah-rah, I will take the other side. I am selling more Flex at these levels. Stock has tripled and more since October. Everybody likes it now.
From 13 of 14 analysts (moderate to strong buy per Yahoo), to apparently every wine connoisseur, golfer and ski bum. All this for a basic manufacturer/assembler without a proprietary product who may or may not be able to integrate various world-wide recent purchases.
Oh well. You can't go by me. I've been wrong many, many times before. Plus, and even worse... I like to pay taxes. Paul Senior.
I guess I'm the wine connoisseur, and patroller is the ski bum, who is the golfer?
My guess is the sell-off of FLEX is related to mo guys departing and a drying up of demand right after large secondary offering by Celestica and one that is just now trying to be put to bed by Jabil. Couple this with the perceptions that the PC sector is slowing down, and we have some opportunity to take some money off the table.
My guess (just a guess) is this will end when Solectron and Jabil announce earnings the week of March 15. Both will report record revenues and earnings and should make comments about growth accelerating in the next several quarters (consistent with comments they made at their last conference calls). This should reduce some of the worries of an impending slowdown in this sector.
Adroit traders might consider re-establishing their positions prior to these releases.
Well, this is just my opinion, and for me personally, I'm not trying to trade these swings.
Paul |
