Market volume has been low in recent slow up creep. (Trading volume in S&P 500 is 20% lower this Nov-Dec than last year.)
Euro risk is too much to break 1,250, going sideways in mho.
Don't use forward PE unless you believe Lah-O and Cathie are seers who had told us about the BP blow-out, that the Giants won the World Series; and they can tell us who will be in the Superbowl this year and if hp's tablet/phones will garner 10% of of markets
MSN shows nicely the forward P/E. INTC and MSFT trading with forward PE of over 10x, while HPQ trades with forward PE of ridiculous 7.40.
Those are not trailing eps but estimates for 2011. I had made numberous comparisons in the past (someone else turn to update them):
INTC's trailing PE is nowhere close to HPQ's. If HPQ is traded at over 10x as INTC and MSFC are, HP's stock would be over $50.
Yes but since I'm not shorting or buying puts, no skin off my nose with the $39.52 bid. BTW, it is only ~5% from today's close of $41.89.
Intel is now at $21.23 with identical trailing PE as HP but greater profit margin and a monopoly in CPUs. It's not $19 any more but still better buy than hp in mho:
$43.40, told you about intel and bac 5-Nov-10 12:07 pm before when they were below $19 and $12 respectively. Now, take a look at msft ... low PE and piles of cash with dividend coming. Best buys below $26.50 if NAS continue to rise to new highs.