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Michael Kurty
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Michael Kurty has been a full time trader for the last 15 years, specializing in options with an emphasis on vertical spreads and covered calls. He has been retired from an engineering profession, and has a Masters Degree in Statistics from Stanford. His trading techniques include... More
  • CSCO Breakout ? 0 comments
    Sep 28, 2012 11:07 AM | about stocks: CSCO

    Today, within the first 5 minutes of trading, CSCO traded 5 million shares and gapped up to an open of 19.01. At the end of 5 minutes, it was at 19.14. Notes from Goldman ( "....long-term earnings potential in the area of software-defined networking and in set-top-boxes is underestimated. Shares are Conviction Buy rated with a $24 price target "), along with a favorable article from "The Street" back up the solid rise in price for the retail customer (you and me). EU's cloud computing support will also help this stock over the next 4 or 5 years. We have yet to see how the rise of Mobile internet ( Cisco forecast 10.8 Exabytes per month of mobile date traffic by 2016....now at 1.3 EB per month ) will add to Cisco's potential. I'm betting that it will be very positive and the $27 price resistance point set back in April 2010 will be tested by 2016.

    Disclosure: I am long CSCO.

    Stocks: CSCO
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