Hey guys, I haven't posted to your boards yet, but a reader alerted me to EMC. When I did a little investigation into the company, it turns out that I used to live minutes from EMC, and I pass it regularly off rt 100. We're technical traders so the reader alerted us because of a potential breakout of a complex head and shoulders. There are multiple shoulders on each side of the head as the price is bouncing from it. I've just written it up as a trade alert and posted the commentary and chart on Stockineer. We're looking for a close above the downward trendline to take positions. I don't like that earnings are coming up very soon, as taking positions just before earnings can be a little risky because it's a point event driven by news, not natural buying and selling, supply/demand where it is where the technicals are useful. At any rate, the trade setup is posted, but I figured I give you guys a heads up on these boards that we may be joining you soon :-) Good luck guys. If price breaks upward our price target is $28.
Agree, I posted few days before Stockinner that technical were looking better but breakout will depend on two things, VMW making its number and showing growth, and EMC making its number and making a positive statement that they will grow revenue as well as make $1.85 EPS for the 2013.. Let hope that EMC and VMW do well this quarter