Buying down at this price instead of selling.......good luck if you're short. Maybe all the analysts are wrong; maybe the Company was wrong in May when it reiterated earnings for first half of 2012; maybe the Company was wrong again in June when it said they would make 6 month earnings, and implied a beat based on a lower effective tax rate of 19% instead of 22 to 24% adding "a few pennies". Maybe they weren't wrong too. Don't forget: 1. No debt; 2. In excess of $200 million cash sitting there; 3. The Company recognized that Europe was slowing but the growth in Asia and other countries "more than made up for it". Again, I'll take the long position at current prices, thanks.
I know I sound like a broken record, but it is NOT about the recent qtr, it is about what is happening in the future, and with the world in a financial turmoil, the price is set on what you are going to produce going forward, and the analyst are saying that they will not produce growth in the near future.. That said, even at 1.40 for the year they are only selling at 10X PE, and with no debt, I am forced to hold on as i don't understand that the price can go that much lower, but i said that at 16, so what do i know