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Technology Stocks : Walt Disney
DIS 104.47+1.0%Nov 28 9:30 AM EST
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To: Racso who wrote (1557)5/13/1999 7:29:00 AM
From: Racso  Read Replies (1) of 2222
 
Thread: DIS offers a unique investment/trading opportunity. It is the most oversold stock in the Dow and the S&P 100 Indexes with relative strength levels close to last October.
The "stock is overvalued" argument has no basis anymore. At 39.4X current P/E, DIS is cheaper than most multimedia names such as VIA [76.3X P/E], CBS [107.4X P/E] or Time Warner [213X P/E].
Yesterday's drop to $28 1/2, purely on Rubin-related fears, put the stock at mid-November 98 levels for a few precious minutes. The recovery to $29 3/16 closing was sharp and quick.
The Street 00-99 EPS growth projections run from 12.5% [Merrill] to
27% [MStanley] with consensus at 20%, a number higher than other
W Buffet's favorites such as G [16%], KO [15%]or MCD [12%].
The stock is being accumulated by smart retail investors. Net flows for non-block trades have been positive for the entire month of April and early May.
Although there might be some short term weakness left, clearly there is no shorting opportunity here.
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