Microsoft Slide Not Over Yet!

Microsoft (MSFT – NASDAQ)

Tuesday, September 03, 2013

Back on August 23, we told you that Microsoft’s (MSFT – NASDAQ) “Balmer-Quitting” rally wasn’t going to last – saying that the year before Ballmer actually leaves was “plenty of time to make another billion dollars worth of mistakes.” In short, we told you to “short the dickens out MSFT at these prices.”

Today we learned that MSFT has just bought Nokia’s smartphone business for some $7 billion. Word circulating around Wall Street has it that the move was forced because Nokia was going to stop making Windows phones, virtually shutting MSFT out of the market.

So now, MSFT has added a nearly defunct hardware operation to its roster of disparate parts. Add it all together, and you have the Bizarro World counterpart to Apple (AAPL – NASDAQ) and Google (GOOG – NASDAQ)’s powerful smartphone ecologies – all wrapped up into one more colossal Balmer failure.

MSFT 090313

Bottarelli Research Tip: If you shorted MSFT at $34.75 like we advised, you are already up 10%. If you bought puts, you’ve probably doubled your money. But MSFT’s troubles aren’t done yet. MSFT latest tumble has created a Head & Shoulders Top, with a target of $25.56! We can’t swear that MSFT will slide that far (yet.) Heck, it might even bounce a little at this level. But we don’t think it will beat resistance at $32.12. And, a failure there will make $30.86 a lock, and $29.61 pretty damned probable.

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Tuesday, 3 September 2013