Reach Out and Touch Someone for a Swan Song

Although it is debatable which exact decisions that the 91-year old Warren Buffett himself is making for Berkshire Hathaway these days, we do know that Father Time always wins. And Mr. Buffett is clearly smart enough to know jus that. 

Thus, before as the time for his swan song approaches, rumors are swirling that he is interested in shares of AT&T, the extremely out of favor telecommunications stock. Specifically, Doug Kass on Twitter (@DougKass) pushed the rumor today, and it has me thinking there is something to it. 

AT&T is yielding over 7% these days, and the monthly chart, below, shows a stock in distress if it loses the $26 support level anytime soon. 

Buffett *should* be interested in T: Strong, identifiable brand with loyalty, massive dividend, stock out of favor in a major way which could present a compelling long-term value. 

I do not own T yet in my long-term account. But I have my eyes on it, especially with this news. Either way, as we head into Labor Day and beyond I will be looking to see if the mid-upper $20s holds as support regardless of whether news hits the tape or not.