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Symantec Corporation Message Board

  • long_term_tech_investor long_term_tech_investor Oct 18, 2012 1:20 PM Flag

    Now Google Missed, down almost 10%

    (good catch Mayface1)

    Google missed on both top and bottom line!

    Investors need to understand that, besides the litany of detailed warnings I've been trying to convey the last month, Symantec is being held up by editorial hyping and air right now. There is no resistance to speak of on the downside, it is smooth sailing downward. Take a look at the charts and the low volume that brought the run up from the 13 range. There is only mild support in the 15.50-16.00 area. And that would be right in the 10%-15% correction range, which is exactly where peer stocks headed and where Symantec is almost surely destined. PLEASE do not fall for the media hype, the stock is not a buy and there is much uncertainty ahead, due not only to global macro conditions but also specifically due to the company chaos and internal mismanagement that needs to be ironed around yet.

    I said a ways back after the big, false run that the 19 range was an absolute GIFT which long-suffering longs should probably take, and now I'm saying that even at the current levels it may be wise for any longs to contemplate how much pain and risk they wish to endure. The risk vs. reward ratio is now severely back out of balance when all factors are taken into consideration.


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