Longs hang in there. Time to buy more when she hits $5.00! Don't get upset man. We are going thru a storm. But,if you are long you should average down by buying more in 100 to 500 lots at $5.00 or below!
Glw has been around for over 150 years. It has been thru the stock crash of the 20's and the Great Depression. My point is that GLW has been thru times that were a lot worse! GLW has lots of assets and lots of cash. Further, it has plenty of available finance.
The top line is not growing. In the meantime, mgmt will have to focus in on cost containment and if that means cutting the fat at the top they should do it. Start cutting mgmt salary and reduce stock options. New rules require stock options to be treated as an expense on the balance sheet. So, if they go giving away lots of options to the CEO this will hurt the bottom line!
"The interview just re establishes my thoughts"
Anything is possible, but the way you play could cause you to become just another bagholder. I won't get caught holding the bag and if the dow goes to 5000, I'll make more money shorting. I concur with your accessment of Cochrane and will add just about all other analyst are little more than paid airheads.
<YASTINE: You were quite bearish the last time you were on the show, that was November 9 of last year where you were talking to Paul. Are you as bearish now as you were then?>
I made a lot of money by being bullish when Cochrane was so bearish (two weeks after Sept 11 was the best time to be long in stocks in the last several years).
The interview just re establishes my thoughts. Love that wall of worry. I'm scared when it's like March 2000 and everyone loves tech.
Thanks for the confirmation frogman !!!!!
"and we've swung to the other side"
Are you 100% sure
That scenario could throw a wrench into your well laid plans.
<How successful have they been the last 2 yrs? hehe>
Like I said I know some. The bubble in technology in early 2000 was obvious. I was out of tech stocks then. The reverse is also true now. It's a cycle, good buddy, and we've swung to the other side. I'm not smart enough so say it was yesterday around $5.35, but it's some where around here. Just look at the pessimism about telecom. It reverses the optimism of March 2000.
Your TA buy and sell signals make sense.
" I just know more successful long term investors"
How successful have they been the last 2 yrs? hehe
The play for GLW "LongTerm" as of this minute is wait for it to close over 5.73, that would generate a TA "BUY" signal. Short term, buy glw near 5.35 & sell near 5.73. That's the immediate trading range. hahahahahahahahahahaha
<You can play that way and catch many winners, but eventually you catch a dog & the lower it goes the more pressure you're under. >
Hey frogman, you're still talking short term. I'm under no pressure. I'm not doing any worrying until a year from now. I know there are some successful short term traders. I just know more successful long term investors.
"If you buy right (ie, at the bottom) than you don't have to "dump it"
That's easier said than done. GLW is 5.45 right now. Let's say I buy 5000 shares immediately for "the long term". Support is simple at this time, 5.35. If it broke below that I would bail out & buy back in when it crosses back over 5.35. You're saying if it went to $4, or what ever, you'd add. What if it goes to $3? buy more. You can play that way and catch many winners, but eventually you catch a dog & the lower it goes the more pressure you're under. I know a few traders that avg short term, but they keep it in reason & if a stock breaks below support they sell "all" buys, but they don't make no more than I make and I dodge the pressure. hahahah
<Why take the chance, when one can trade in seconds? >
I agree with that. The secret is the purchase price. If you buy right (ie, at the bottom) than you don't have to "dump it".
This is a good time to buy GLW for a long term investment. This is also a good time to buy GLW for a short term swing. Either way, the "Price is Right".
"You're just saying it "short term"
lion, lion, lion, The same principle applies to both long & short term trading. The only difference is more time & money is wasted averaging for the "Long Term". I have long term plays in one of my accounts & if a stock losses dn to the point it bothers me, I dump it, I do not buy more. If it breaks out above resistance I buy back in. Dollar cost averaging has caused many a "Investor" to go broke. Why take the chance, when one can trade in seconds? hahahahahahahahahahahahahahahaha