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Symantec Corporation Message Board

  • long_term_tech_investor long_term_tech_investor Nov 5, 2012 10:48 AM Flag

    Symantec Shares Pricey Again

    All long investors, not just Symantec shareholders, should get protected if holding through this week as it may be extremely volatile.

    Quarterly fund rotation contributed to the false inflation of some company's shares last week, Symantec included. The shares are now positioned for a deeper break-down than any temporary upside that could be remaining on this recent run. The 50 DMA may provide some dowside support, but broader market will indicate direction in the near term (whose indices are also on the upper end of their run).

    Do your homework and stay protected, no telling where things are headed this week with the election. While there is have history to look back upon this is a rather unique situation for a variety of reasons. Because of the fiscal cliff I suspect any upside rally would be brief and short lived no matter who is elected. Whereas if traders react negatively to the outcome of the election the market could incur a steep sell-off and then remain depressed for months while facing the fiscal cliff (which could cause quite a bit of share erosion depending on how that plays out).

    LT

 
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