This board was busier than a Iowa toad in a button polishing contest. What happened? Oh - the stock is creeping up, maybe thats it. Any thoughts or insight on the sustainability of the top end in the near term? The redirect of the core business appears to have taken a 180.
I think the silence has to do with teh departure of Bly. Bly was a lightning rod for all that was bad in SPX. His gluttonry at teh feeding trough. His ego the size of a Mack truck. His difficulties in affording any dignity to the employees. With him gone, it may take a while before there is anything of its like to make people angry.
I lost most of my interest in SPX when Bly left. He was a greedy bastard who got your juices flowing.
The button comment was funny, but..."redirect of the core business...etc." What??
The stock is still "for sale." Until buyers are flocking in we're not going to see much action here...except the usual employee complaints. There are no bullish looking charts for SPX these days. If you own it you own it on faith that things can't get any worse, IMO.
Fundementally, SPX is at risk of continued competition from the 3rd world, expecially Mexico and China. Harvesting the good businesses leaves the rest to carry the load. Has SPX abandoned the grow, fix, or sell mentality and replaced it with....what? I don't see any clear vision, yet. Neither do the people buying stock.
In fairness, the new team is just getting started, but remember this basically still the same bunch minus Blystone. Wall Street knows this, so no surprise at their collective, "ho-hum."
"Fire when you see the whites of their eyes." Until the trend is up, SPX will move in fits and spurts. There are plenty of other good plays out there.