Ericsson Telephone (ERIC) Opportunity Revealed as DOW Plunges 400 Points
Today the markets took a big hit due to credit market concerns. Worries about the subprime mortgage problems and increasingly difficult environment for corporate borrowing has sent the DOW tumbling over 400 points this afternoon. While many of our readers may look at today as a waste, others see it as an opportunity to get back into stocks they missed earlier this year. One such example is Ericsson Telephone Co (NASDAQ: ERIC). ERIC is a member of the Communications Services ($COMSRV) sector that has seen a good steady flow of institutional money over the last several months. Today it hits what we like to call it's "injection point" or level of critical support. A breach of these levels would send the stock tumbling and break and the long term up trend it has endured since the beginning of 2006.