<<I'm missin' your point; the fact that you can dig up examples where a CEO sells and the stocks rise afterwards doesn't address what I said >>
My point is crystal clear, that in this market, specifically in the internet sector, that minor insider sale is a NON-EVENT when it comes to stock price movement, especially when EGGS is going to open up new sites on Monday, with possibly a deluge of publicity campaign accompanying the event. You also cunningly omitted the example I brought up with BAMM, in which the stock roses 200%+ on huge volume right after a serious Smith Barney downgrade. While I am at it, I will give you one more example: Jamie (DLJP) downgraded EBAY a short while ago when the stock was around 125 on valuation concern. Well, it has gone on to advance another 90 points since.
When EGGS gets to mid 40 or perhaps low 50s, I would start considering a short position. For now, it's just too much momentum, hype and greed driving these stocks. Besides, my entry point was $14, and I can stay long until my target is reached, just keep raising my stop with each price increment. |
