You have hit on a significant and scary point regarding the potential for civil unrest. Just watch and listen to all the pandering and populist bullshit being thrown by candidates on BOTH sides! Attacking corporations and the free market may play well to the ubder-educated voting masses but in the end government takeover of all aspects of our economy will place us at the top tier of third world countries and we will be begging China for food in 20 years as these fools take valuable agricultural land out of production to produce corn fuel to get mid western votes and let precious oil lie in abundance within our boundaries. Look at the global attack on our economy under the guise of "man made" global warming...what a scam! Maybe, just maybe this market is beginning to discount the demise of our capitalism as it assesses the asses now running not to mention the Pelosis and Reids who are waiting in the wings for further attacks on our free markets.
Damn I hate to be so bearish but all it takes is an objective look at what's happening around us.
Guido, I couldn't agree with you post more. We are living in a scary time. The government is taking more and more, and the people act like sheep. Mrs. Clinton is from my state and I can't believe how little she has done as compared to what she claims. The sheep keep asking for more "free" entitlements and don't understand they are giving up their freedoms to the wolves.
Ever since PRFT became part of Russell 2000, it has been following it rather closely, overlay the charts and you will see what I mean. Everytime Russell goes down, so does PRFT There is just not enough buying interest to offset the selling There is absolutely nothing which indicates to me the economy is going to be recovering any time soon, which means Russell index will only be going down. Everything around me is only getting worse. Cost of living has been going up like crazy the past 5 years and is only now starting to catch up with consumers At this rate, revolution is coming in 2015 :-| Just wait and see what happens when a midwestern worker has to pay $10 a gallon at the pump to fuel his farm truck My rifles are clean and ready, just in case ;-)
YOU ALL KEPT SAYING PRFT WILL BE $30 BY EOY PLEASE COME OUT AND TELL ME WHAT HAPPENED, I AM RATHER INTERESTED IN YOUR LAME EXCUSE FOR PUMPING THIS STOCK TO OTHERS THAT LOST MONEY
Investing speaking, when everything looks bad, that is when you are suppose to reverse your position. In another words, when stock keep on going down, you buy. When the stock keep going up, you sell.
I made statements of PRFT hitting 30 dollars in 2008 and believe that will happen. Why? Economy will be picking up steam by the end of the year. (Summer probably) PRFT will probably buy a few more companies because I have a feeling they have a goal of 400 million run rate by end of this year.
ISM came out and it was still positive. Feds are going to have to kick it in high gear to fight this slow down.
As for the current price, I'm in the same boat with you. It just does not make sense. I can see 18-20 dollars, but 15? I lost a lot because of it! Even some of the analyst said it was an over reaction. That is why I was hoping the company would push out a guidance to help the stock.