IMO I don't see a lot of selling taking place and any significant reduction in the price before earings. I think most people are going into a wait and see (hold) positon to see how earnings go and are ready to ride this thing higher if earnings are good. If news leaks out about a less than stellar qtr or the report is bad then we'll see the significant selling and price drop from this range. But I wouldn't expect to see it go below $24.50 even then. I think Hurd is still in the honeymoon phase of his relationshpip with Wall Street and will be given a pass if the qtr doesn't go real well.
My guess the earnings will be pretty good again for the qtr and will meet or exceed expectations. We will see the other side of $29.50 and into $30s by end of year if HP does exceeds. I am still buying lightly on the dips.
The pressure is now on Dell even more to perform and out perform this qtr. With the massive layoffs and restructuring going on over there if they exceed expectations it will be on the paychecks of those they laid off not because of any significant market share gains. Dell will do whatever it takes to meet expectations so it will be interesting (if not sad) to see how they do it. Look for the price to level out in the low $30 range for a while.