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Nice Reversal on Riverbed Technology

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Even the downgrade by Piper Jaffray couldn't keep the stock down today. Riverbed Tech (RVBD) looked like it would break below the 20ema at $27.44 but it was too strong to remain weak closing at $27.99.

“We anticipate the company will continue to execute well, and upside to March quarter and 2010 estimates is highly likely, but we believe this is already priced into the stock,” he writes. “Given the upside scenario already priced into RVBD shares, we think it will be hard for the stock to outperform on a relative basis.”

RVBD is the biggest holding at around 7% in our Growth Portfolio and one of the largest holdings in our Opportunistic (CV.IM) model. At this point, we're happy to hold a stock that can hold support especially on a downgrade.

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