Funny what a difference a couple days makes...when EMC was surging (a few days ago) many threads on SI joked about the end of the "cyclical run", and here, how everyone missed a great op to buy EMC at low 100's, and even below...most here, I think, felt good about EMC chances to get back to 130 in short order...
Again, I think your call is an early one, "EMC not the same"....Cisco, Dell, Intel.....since January, all have been bitten by the same bug..initially, fear about earnings/Y2K (mostly since relieved, look at last week), but now a lot of money shifting between big-caps and cyclicals...EMC is not being singled out here...this is not an EMC specific problem...therefore, I am not so worried about the 50 day DMA...
I, for one, am not ready to say EMC is going to be stuck (for a while here, months)...the company is growing too quickly for that, IMO...Ditto for Dell...
Watch how quickly sentiment can turn...one big up day, and everyone feels great again....IMO, no way the cyclical can rally for months, and IMO, growth is not near as strong (around the world) as the market is thinking right now...once that is clear again...out goes the money from the cyclicals and right back into the old familiar names...
We know soon enough.. |
