This market sucks and there is nothing on the horizon that looks like it will give it a boost. I should have sold yesterday when EMC had a move up but NO, I thought it might go up more today -- WRONG. You would have thought an upgrade by the brokers to a Strong Buy would have helped -- again WRONG.
Its just my opinion, but the days of the high flying growth and high valuations are done with till the next big stock bubble has ahd a quarter or two under its belt...
Many companies had great returns in their pension investments during the bull run... and the Fed in its wisdom wouldn't allow those increases to escape taxation. The pension gains lead to overfunded plans and the money had to be diverted back to the companies bottom lines...
This inflated earning for many companies... taking those earning away left the company in a bad position with comparitive earnings... add to that a tougher environment and in EMC's case a competetive environment in which it appears they will trade off margin and earnings to maintain market share... Key is without the stock market gains a great many stocks will appear to have poor earnings, while maintaining the same old earnings (or less) that their core business returned all along.
I guess my expectation is that EMC will be a good long term hold, but the current price is not cheap by any means... I wouldn't be surprised to see the low under 15, but then again it may hold up better than I think...
I am long at 31 for a few hundred shares and have sold several 22.50 july put contracts... If the premiums look attractive I'll sell more puts at the 17.50 and 15 dollar levels, but I will probably wait untill the 22.50 close out or the price drops another couple of bucks.
I meant to add one encouraging thought... My expectation is that the stock will respond in a possitive way to the actual earnings... barring another negative surprise. I'm hoping for a penny or to over the 4-6 cents forecast.
By the way, these ANALyst are high paid CROOKS. It's legal and they even come out on TV smiling at you.
Track record is the best way to judge someone. That's why I like zigzag guy posting here. Notice the hostily from others when he posts - those are the paid crooks right hand pimps I am telling you about.
* Track record is the best way to judge someone. That's why I like zigzag guy posting here
Jeeze you are a funny guy, ziggy's track record is that he sold out of EMC at $2.50 adjusted for splits - he sold out for 1/40th of the value, even if he held on to now, he would have made 8 times the money that he did. I people like that are your heroes, no wonder EMC trashed you with the other deadwood.
It is easy to say people are idiots for following financial advice that they hear. Maybe they aren't as savvy as you in investing. I am the first to admit that I have screwed up royally in following advice especially from the talking heads. I sure wish that I could say something different but I have really been hit hard in this market.