Following a fresh low
CNBC had been floating out rumors that Oracle "could" "potentially" "acquire" this company - an if of an if of an if, if you asked me... I got dropped for a miniscue loss in the mid-$7s - stuck my hand out too soon and only held it for a few minutes - but I think in this low-volume, post-turkey environment, this dawg can run up to its 50dma intraday. Wouldn't get greedy here. Anything near the mid-7s should be unloaded into.
Just because Oracle paid thru the nose for PSFT (Peoplesoft) don't mean that they're automatically the NY Knicks. Besides, Oracle is probably heading for the mid-teens, and will soon be kicking themselves for spending all those billions buying back their own shares at much higher prices.