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| 2010-08-23 01:41 |
MERGER MANIA NOT ENOUGH, YET
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The market
came out of the gate fast, but has struggled to stay in positive territory. Merger mania would lift spirits, and the bidding war for 3Par (a company
that has lost money the last two years) is the kind of deal that generates buzz. In some ways, too, it underscores flaws. I think Hewlett Packard
(HPQ) and Dell (DELL) face serious competition from abroad. Still, one of my themes is that the market is undervalued, which makes these deals that
much more attractive.
As it becomes cooler in New York, and summer winds down, anxiety will increase as everyone begins to brace for seasonal
action like weak Septembers and Octobers. Toss in the notion of things like the Hindenburg Event spooking investors, and it's easy to see why the
market is spinning its wheels. Of course, bracing for the worst could be good and bad. It's not great because any subpar news could snowball into an
overreaction. By the same token, lowered hurdles are easier to clear.
The DJIA is forming a reverse head and shoulders formation, generally a
bullish formation, and all it needs now is bullish news.
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Disclaimer: Securities Operations Forum is providing this research to assist investors in determining when to buy and when to sell. All investment decisions are yours and as a result you could make or lose money. Securities Operations Forum, its employees and/or its affiliates and family members may from time to time take positions in the open market or otherwise with respect to the securities discussed, but not have stock ownership equal to or greater than 1% of the outstanding stock of the covered company nor does any employee of Securities Operations Forum sit on the Board of Directors of any covered company. The statements made herein include information obtained from sources believed to be reliable, but no independent verification has been made and we do not guarantee its accuracy or completeness. The statements made herein contain general information and do not constitute an offer to buy or sell any security. |
