I got in somwhat last week, and I'm waiting for a pullback to buy more....This afternoon, I went to speak to one of my professors, while ZE was around 18. An hour later, I came back, and ZE is at 23!!! Also, IDID (which I mentioned in the ADVR thread (Under MISC/BIOTECH-MEDICAL) was up to $1. That bastard was at 1/16 on Friday.
About ZE, I didn't think it was going to get this high without first pulling back (obviously, because otherwise, I would have bought alot more shares). Anyway, who knows, it may go to 1000 before it ever pulls back, but I don't feel safe buying it. After the first hint of a selloff, alot of people (many of whom, who missed out on the inital run) are going to jump into the stock. Let's say that ZE opens tomorrow at 26, and tanks from there. If 26 is indeed the first peak, the stock will probably go down to the 17-20 range, and then make a run back to 26. If it breaks 26 (which it almost certainly will, barring any sort of bad news), the stock will easily make it into the 30s. I describe these momentum cycles in my paper.
Strangely enough, I'm mad about the market behaiving this way, although I own the stocks which are running like this. I've never witnessed a crash, but I hear alot of analysts saying that when the market gets this speculative, a crash in near. However, those analysts also say that the speculative phase can last for months before the market begins to fall. So for now, I guess I might as well try to enjoy the ride. |
