Wednesday, October 8, 2008

GameChangers and NOK

Original post date: August 8th 2008
Removed copyright content and reposted






On March GameChangers was writing about Nokia: This GameChanger will continue to dominate its market.

GameChangers bought NOK on March 3rd at $35.70.

Now, while NOK is trading around$26-$27 GameChangers 's suggesting a buy limit of $32.00.

In June's issue of his newsletter, GameChangers wrote:

Buy NOK under $32.[REMOVED].

My humble opinion is that Nokia will not bring huge profits to investors for several reasons:
  1. With Blackberry and iPhone I see it very hard for NOK to dominate the market
  2. Cell phones are everywhere today. They are a commodity like business and, according to Warren Buffett, commodities are never a good investment.
  3. I owned some 5 or 6 Nokia phone up to now and I will NEVER get one anymore.
Now, a quick look at the chart:


GameChangers entry point (the red dot) was not very good. For now it does not seem like NOK will go to GameChangers ' target of at least $50 very soon, but GameChangers said mid-2009.

My only point is: on March 3rd there were no technical sign to buy. If GameChangers had been more patient he would have avoided a 24% loss up to now.

UPDATE ON OCTOBER 3rd 2008
NOK closed at $17.75 (-50%).

1 comment:

Blogger said...

You might be qualified for a complimentary Apple iPhone 7.