That may become an issue is that too many people are on one side of the trade when a stock or markets go south. When that happens who knows but it almost always happens. For now it is an impressive move basically straight up I believe today's move was fueled partly by the Fast Money Halftime show when there was mention of consolidation in the industry saying AAPL should buy them or should have bought them awhile ago. Once the BRCM news showed up it pushed all of tech higher especially speculative targets.
Will probably be a good buy soon but on the day of earnings the market can be merciless on growth stocks when they disappoint and the growth slows. The guidance was very bad so when the market opens I don't doubt they drive this under $52. I am nibbling here under $53 hoping for $54 plus at some point today. If it tests the $50 area I will buy a little more.
Most here know there is a top somewhere near $48 I'm not sure it gets there in the near-term unless summer revenues are off the charts but I could see $44 plus again with oil correcting I believe now that the holiday is past and the rig count numbers have flattened oil continues lower but the sector is now a prisoner of Mr. Parker.
This is something new to companies with horrible management teams? Hertz is not Enron and they will survive this ridiculous delay that I have never seen anything like in 30 years of investing and trading. I would love to see claw backs they almost never happen because the boards allow these semi-criminals to flourish with their horrible decision making while running things and shareholders usually re-vote them back in with the proxies.
That's old news the real problem at this moment is this ridiculous delay in their filings. When they finally arrive if they are not as bad as expected shares rise if they are worse they go to the 52 week low. The rats checked out awhile ago and with Icahn and his people involved it may lend support to the shares.
That was the moment of truth for the whole sector. The next day they were all down near or over 10% and have not recovered since and what's more disturbing is they barely or do not rally on down oil days. Cramer even tried to groom his words in a different direction and he would not bite.
may offset the Chinese garbage they were buying and help LL margins going forward. Either way LL has a long road ahead to make gains....slow and steady works sometimes.
an upgrade by Mizuho to Buy with a $39 target. There have been a recent series of downgrades of MU and if this is the start of a few upgrades then over $30 may be not far away. Quite possibly it may be the seasonal trend for tech and MU at work. You start nibbling before back to school and the holidays it has worked in the past it may work this year too. I guess we will find out soon enough.