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Textron Inc. Message Board

  • r_crabtree r_crabtree Apr 8, 2013 11:49 AM Flag

    What's behind the decline?

    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?

    Thanks

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    • 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.

      Sentiment: Buy

 
TXT
44.81-1.30(-2.82%)Apr 17 4:05 PMEDT