Bookkeeping: Closing Seagate Technology (STX)

By Trader Mark
19 March 2010 @ 11:35 am EDT

I am closing out Seagate Technology (STX) for non performance in a market gone ballistic.  It appears it is stuck being associated with Western Digital (WDC) whose chart is a mess.  HAL9000 no longer seems interested in these stocks with PEs in single digits (6ish for STX) as there are retailers with PE of 40+ to chase after.  You have to respect the microchips even if you don't understand them.  Western Digital actually looks like a great short set up, it has been rejected on any bounce for almost a month straight.

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