Corning may be fragile now, but...
The stock is a bargain at current levels, but there is a good chance the price could drop further in the near term.
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Today, Corning is a global leader in five vital market segments: glass for tv's, monitors, laptops; ceramics for emission control systems; fiber optics for telecommunications; optical sensors for the biotech industry and specialty glass for labs. If we get a Republican President in 2012, this stock will fall off a cliff. There will be massive cuts to the military and government sectors, taxes will rise and a continued recession will take place. Consumer goods will take a huge hit. Digital streaming is the wave of the future and I can't see cable companies growing and laying down more fiber optics in a recession. Biotech was hot but Republican funding for stem cell research? Not happening. The only sector that might do well will be specialty glass as young people give up on finding a job and borrow heavily via student loans to attend college. This stock is a loser and will be stagnant for years to come.
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All hail the bull market, which ended the week with a big rally. But it also is starting to look a little like 1987, which suffered an epic blow-out.
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