Angry response from this bunch now days. I'm a bit of an oddball. I like to buy low and sell high, watch myself make money rather than lose money. That goes against the grain on this board but it's much more fun..
Its proven again, down more than twice the DJI. When the market goes back up Corning will not even be close to the percent of the DJI going up - so as I said many, many times, underperforms on the upside and overperforms on the downside.
Me think total global economic collapse imminent. Soon millions be fighting over loaf of bread. Be able to pick up 10 thousand shares of Corny for 5 thousand dollars. No be able to take more Latino or Muslix only Europeans. Be coming in by 10 million a day. Then the bad stuff starts. Democrap elect Hilliary...
the pie in sky pundits? Back under their rocks? Maybe looking for a tall building? This is small sht. EU throwing a temper tantrum and using scare tactics to upset economy. In a month you want even remember this.
They should all get out of that #$%$ over there.
Still a good company, but you cannot fight the tape. I have bailed from GLW at a decent profit. I will return, as you suggest Merv, at $15.
I don't believe the current JPY levels have that much of an effect on Q2. Options (futures, currencies) expire the 3rd Fri of each month. Following is expiration date along with JPY and GLW price for Q1 and Q2. Takeaway, GLW price held while under extreme pressure from a strengthening Yen.
3/18 JPY was 111.55 GLW was $20.04
6/17 JPY was 104.16 GLW was $20.29
Also, worth watching in the next few weeks is volume and price action. Buybacks are in blackout 4-5 weeks prior to earnings call. In April prior to Q1 call, the price went from $20 to $21. GLW was in blackout, meaning as a buyer they were sitting on the sidelines. Stock price in the next few week(s) is entirely on the market as GLW's buybacks are on the sidelines leading up to the July 26-30 earnings call.
if it stays there, they will again take a large mark to market hedge loss. The yen hedges do not affect cash flow though, they in fact, keep it steady