I have been discussing this name the past few weeks, and with our lack of long exposure - this is as good of time as any to begin a position.  My limit buy order at $15.50 does not seem likely unless the market begins another steep drop. I'll start a 0.9% position in the $18.50 area and give it perhaps a buck or so of leeway on the downside.  If the S&P 500 breaks over 1100 and stays there, this is a name we'll roll much more money into it.. Obviously the relative strength is high and at 6x earnings for the year, it's not expensive - but once more, this is a cyclical company.  The cheapness might be forecasting a much weaker disk drive sector in the year to come... we'll see.

[Feb 3, 2010: Seagate Technology Continues to Impress]

Long Seagate Technology in fund; no personal position