All last year, I was riding high on EMC Corporation (EMC). They owned majority of one of the hottest IPOs ever, in VMware (VMW). EMC was all good and it gave me great gains, but, as 2007 was coming to a close, the company started slowly and painfully sinking lower and lower.
The stock eventually topped out around $25. While investors were expecting it to continue to climb higher, for some odd reason, others weren’t having it. EMC eventually found itself in the $14 neighborhood.
Now I have never given up on the stock. I stated numerous times that this stock WILL be on the tear once again. It was just a matter of time before all their acquisitions started to payoff.
After looking at the chart, is it time to bring EMC back to the forefront?
With the “rounded off effect” of the chart, it just may be.