He actually said there were people buying calls thinking that a bottom is near. On another note AAL's numbers this morning were not bad considering two planes crashed recently. Time will heal travelers fears it almost always does.
What if the world straightens out soon and this was a blip. Not saying that will happen but the analysts numbers coming down are also a what if created by him. His hedgie pals are cashing in big time shorting recently they have shaken a lot of people out and theses same guys will cover and go long possibly when he flips again. The airlines are slightly down to up now and quite possibly the three big ones have dropped a lot in the past month or so and maybe that was being factored in. Today was some extra shake out that may have never happened if he was not ripping them last night and this morning. Plain and simple he is there for himself, his hedge fund brothers, WS and that is it in a nutshell! All those chumps who call in to his show just do not get it. Ask the RAD buyers in the mid $8's a decade high when he was pumping RAD almost every day calling it a growth stock at those levels. The stock is now at $6... six to eight weeks later and he never mentions RAD at all now. This is how he operates you hear about his winners and amnesia on the misses. You and I can do that also.
cuts the target by a buck. You got to love analysts when they make calls after the fact which most seem to do. Where were these guys over $8? The sad part is they still matter despite we know who they work for why they make these calls. It's to please their execs and their book. Now I would love to see RAD go back over $7 by September to see if they change their call.
but this is a tech company with very good earnings and trading at a funny P/E of 9.75 and a forward of 9.25 for a tech stock that's amazing. The only thing missing is a dividend. Once the world straightens out a bit this will be back to $33 fairly soon. Buyers down here will be happy by September and others will be saying once again why wasn't I buying down here? I'll be watching to get back in if it stabilizes. We have seen this before and if Einhorn opens his mouth it will make go higher....just my take on the drop.
How about $25? or $23? $23 would be about a 35% correction on a 10 trailing 9 forward stock. None of that is happening by then Putin will be taken out.
Quite possibly it is along with August which is usually a weak month. We were near all-time highs and the markets are using all the global reasons now including the newest problems Ebola and thousands trapped on an Iraqi mountain top with the terrorists waiting down below. I believe most of this is related to Putin....period!
It appears that may happen but if not for Putin I believe MU would still be well over $30. Russia is an excuse or a may eventually be a legitimate reason that stocks are correcting. Putin is destroying his economy and may cause a global slowdown. MU is a cheap stock and will rebound soon enough. My biggest concern with MU will almost always be additional capacity. Today may have been a near-term bottom as it appeared stops may have been hit by the machines. That may not happen again for awhile.