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Sara Lee Corp. Message Board

  • drcas drcas Jun 7, 2005 10:21 AM Flag

    Breaking support @ 20? 18 soon?


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    • I think its in the process of putting in a significant bottom here which will probably be complte within a week or so. The pattern itself is an extremely reliable, ending diagnal that began about 30 trading days ago. So far, we've completed 3 waves down. One more up-down sequence should do it. Once complete, the strongest part of the upmove, a 3rs wave lies dead ahead...I predict we take out our 1998 highs within 1 year.

    • I posted my beliefs about a month ago. People are right, this Company is going to continue paying dividends so I don't see the price dropping significantly. However, the situation with the turnaround dragging out is negatively impacting earnings in the interim so I believe an attractive purchase price is around $19 (as mentioned in my previous post - $18 if you are very patient and get lucky enough to see it go that low). I would write puts all day at $17.50 or less though, this thing just isn't dropping below that due to the strong dividend (won't ever go below $18 IMO). I will be buying at $19 in the next 3 months - you can bet that.