Monday, July 18, 2011

Abandon the AVT Ship!

We have held our expectations a bit high for an early choice, Avnet Inc. (AVT).

Caught our eye on 6/5/08 at 30.33.
Resurfaced on our watch list on 10/17/10 for a chance to lower the average cost and buy it at 27.63. Overall, the average cost was 28.98.

Stock action for AVT has been less than desirable. I say, let's drop it and call it even.

Technically, the stock price has deteriorated from the highs on 5/12/11 of 38.00; at this point, trading at 28.91 I see no support level until it reaches 22.50, a possible scenario.

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