I’ve been accumulating shares for a while, and considered selling at over $31, but ultimately held on and I’m beginning to regret it. Anyone have thoughts on the short and longer term outlook for Textron?
The gap down today corresponds to the wave 3 (down) in Elliot wave theory. By the way you can see the clear H&S pattern on the chart as well. So prepare to the prolong decline. As for me I am SHORT TXT and added to my short position a week ago.
What decline? 5-6% move one way or another is not abnormal. It has been shorted over 6 million shares and shorts are about to be squeezed out and stock ready to move. Alcoa earnings demonstrate strong Aerospace demand and reinforce Textron's outlook. I think you are giving away your shares if you want to sell now because you can get $45 to $47 in December. Ofcourse, if you know better stocks to invest, please share with us. I know Textron has pathetic dividend and if that's what you want, try windstream for 12% yield but no guarantee whether stock price or dividend will maintain.
Wasn’t trying to start an argument on the merits of holding TXT, just wondering what others thought. Thanks for your opinion, I do hope you’re right in your assessment. It’s just that I’ve seen TXT behave in an unpredictable manner in the past.