Not yet in my opinion, you may see it touch the $59. or a little lower mark if the news media and talking heads continue to scare the country till the 2012 / 2013 election conclusion - The Dems are grabbing at straws and the Rep are holding things back so neither can claim progress so they can get each other out of there.
In reality politically speaking - both parties need thrown out for all the subs, foreign give aways, unbalanced trade, locking up 1.4$T in profits overseas that can't come home unless they are taxed @35% instead of taking care of our own; by allowing for companies to bring those profits home geared to job growth investment (only) within the continental USA, cut subs for ethanol - corn growers,farmers for not growing food (Bachmann's Farms)$subs to big business oil / gas, then
cut the red tape for EPA, etc. and fairly distribute the uneven tax code favoring the giant corp / individuals.
Even W.Buffet says that... So till the bums get out and 1 party controls you'll see major problems and downward trends IMHO. for what ever that is worth.
Buying @ $59.99 or less.Just Guessing as Always.
PH seems to be following the market in general. Is this a good time to buy?
Are any of you PH followers into channeling stocks? I have seen a few people make a little money doing this but it seems to me to be a bit like going to Vegas and rolling the dice. As long as the stock goes up and down in the channel you will make money but as soon as it breaks out in eithor direction you loose. Am I missing something?
Parker is a very solid stock, that said I too agree with Danzak on his comment about "Your" personal position and investment stratagy.
Over the years I have bought PH from mid 30's to 60's at times and have gone in/out just as much, If you have any views on Charting you can see they had a very consistant cycle from Q - Q and many times you could buy hold for a few Q and sell with a 25% / 30% gain.
This latest set of Q and the major economical downswell / competition / fear ( people following the herd mentality ) has dragged it and many other stocks down further then needed to the Mar. Lows where I started to get back in 100%.
A lot of $$$ is on the side lines coupled with people still putting money in 401k and a little is starting to come back into GE AA PH and a lot of other quality type stocks with a long history of security; ( It has to go somewhere? ); these stocks are reaching a level where I see a major pull back in the next 6 mo. of 20/25% which would be a good entry point then take off again.
(I'm not following the charts presently - just best guess evaluation from a lot of sourses of info. TV / Computer / Radio / overall discussion ).
I see PH possible being towards the 70's within 12 to 18 month time frame as I have said resently here - $52. via years end -
( Which came true the other day as I called it back on June 9th 09 and see $58 via the end of Mar Q. 2010 ). Summer of 2010 would signal the big drop or a little sooner then take off to 70's which will be my exit late 2010 or early 2011.
This is all guessing from my DD, past evaluation, the over all economy, politics, world as a whole, I will tell you I'm in 100% stocks, including personal, 401k, etc. since Mar. 09 and things look good, if I get some more I'm going to hold for that 20/25% pull back then buy more stocks till I dump it all and lay back and relax - Age / Security / etc. are all part of my DD to come to these conclusions,
Hope it helps, but again its my crystal ball and my personal situation / evaluation....
G.L. Don't play with the rent money either....
Not what we think but what your needs are. If you need some money right now and can make a decent profit consider selling. Otherwise waiting over a long haul shouldn't hurt you as Parker has been a big plus for the long term investor. I've held shares over 30 years and I can assure you it was not a mistake. Between consistent dividends, splits and growth I have multiplied my original investment many times over. My only mistakes were not investing more when those early year prices were down around the $30 range. But as they say in the market, never look back on a decision but always look ahead.
Good luck on your decision.
Phantomlady: Personally I would wait. Within a few weeks Parker will be reporting their results for the last quarter ended 6/30/09 as well as the overall numbers for their fiscal year ended 6/30 also. At that time they will be projecting their out look for the next fiscal year and you will see the reaction to all this from the analysts and market. Listen to their earnings conference then. Depending on these results and comments the stock could go a lot lower. Doesn't usually go up dramtically until the market sees something solid. Good luck.
Looks like a good day for PH and the market. Maybe a few more bankruptsies like GM will allow market forces to take over from government forces.
Also looks like a downgrade doesn't hurt so bad in a good market. Who said that "a rising tide lifts all boats"?